Concept explainers
To find: How much money should be invested in each scheme.
Answer to Problem 18AYU
Explanation of Solution
Given information:
Amount to be invested is
Scheme 1: B-rated bond paying
Scheme 2: certificate of deposit paying
Calculation:
As per the given information −
Amount to be invested is
Let suppose
Scheme 1: B-rated bond paying
Using simple interest formula
Interest from scheme 1,
Scheme 2: certificate of deposit paying
Interest from scheme 2,
Total interest from both scheme is
Hence,
Chapter A Solutions
Precalculus
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