question archive A retired couple has $160,000 to invest to obtain annual income
A retired couple has $160,000 to invest to obtain annual income
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A retired couple has $160,000 to invest to obtain annual income. They want some of it invested in safe Certificates of Deposit yielding 6%. The rest they want to invest in AA bonds yielding 11% per year. How much should they invest in each to realize exactly $15,600 per year?
