Models and Applications · Exercise 34

For exercises 17 and 18, use this scenario: A retired woman has $50,000 to invest but needs to make $6,000 a year from the interest to meet certain living expenses. One bond investment pays 15% annual interest. The rest of it she wants to put in a CD that pays 7%.

Set up and solve the equation for how much the woman should invest in each option to sustain a $6,000 annual return.

Its source prints no answer for this problem, so there's nothing to check against.

OpenStax, Algebra and Trigonometry 2e · §2.3 Models and Applications · Exercise 34