Problem 7
The director for a company's trust fund is investing $200,000. According to company policy, both a CD ( Certificate of Deposit ) and a bond must be used. The CD returns 4% per year and the bond returns 8% per year. If the company would like the trust fund to yield $10,000 dollars per year, how much money should the director invest in the CD and how much should the director invest in the bond?
Students, email your solutions to
jwarnke@unomaha.edu. Solutions are due by 11:59PM on Friday October 23th, 2009. Along with your solution, include your name, your school's name, the name of your math teacher or math club moderator, and your year in school.
Solution
