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Kelly has $20,000 to invest. You recommend she diversify into three invest- ments: treasury bills that yield 5% simple interest; treasury bonds that yield 7% simple interest; and corporate bonds that yield 10% simple interest. Kelly wishes to earn $1,390 per year in income. Also, Kelly wants her investment in bills to be $3,000 more than her investment in corporate bonds. How much money should Kelly place in each investment?

Kelly has $20,000 to invest. You recommend she diversify into three invest- ments: treasury bills that yield 5% simple interest; treasury bonds that yield 7% simple interest; and corporate bonds that yield 10% simple interest. Kelly wishes to earn $1,390 per year in income. Also, Kelly wants her investment in bills to be $3,000 more than her investment in corporate bonds. How much money should Kelly place in each investment?

Calculus: Early Transcendentals
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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Kelly has $20,000 to invest. You recommend she diversify into three invest- ments: treasury bills that yield 5% simple interest; treasury bonds that yield 7% simple interest; and corporate bonds that yield 10% simple interest. Kelly wishes to earn $1,390 per year in income. Also, Kelly wants her investment in bills to be $3,000 more than her investment in corporate bonds. How much money should Kelly place in each investment?
Transcribed Image Text:Kelly has $20,000 to invest. You recommend she diversify into three invest- ments: treasury bills that yield 5% simple interest; treasury bonds that yield 7% simple interest; and corporate bonds that yield 10% simple interest. Kelly wishes to earn $1,390 per year in income. Also, Kelly wants her investment in bills to be $3,000 more than her investment in corporate bonds. How much money should Kelly place in each investment?
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