College Algebra (10th Edition)

Published by Pearson
ISBN 10: 0321979478
ISBN 13: 978-0-32197-947-6

Chapter 1 - Section 1.7 - Problem Solving: Interest, Mixture, Uniform Motion, Constant Rate Job Applications - 1.7 Asses Your Understanding - Page 141: 20

Answer

See below.

Work Step by Step

Let $x$ be the amount she invests in B-rated bonds and then $50000-x$ is the amount invested in CDs, then our equation is: $1.15x+(50000-x)1.07=57000\\1.15x+53500-1.07x=57000\\0.08x=3500\\x=43750$ So $43750$ should be the amount she invests in B-rated bonds and then $6250$ is the amount invested in CDs
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.