Solve the problem. A $170,000 trust is to be invested in bonds paying 8%, CDs paying...

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Solve the problem. A $170,000 trust is to be invested in bonds paying 8%, CDs paying...

Solve the problem.

A $170,000 trust is to be invested in bonds paying 8%, CDs paying 5%, and mortgages paying 9%. The bond and CD investment must equal the mortgage investment. To earn a $13,310 annual income from the investments, how much should the bank invest in bonds?

a) $45,000

b) $47,000

c) $85,000

d) $38,000

business accounting

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