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# Financial Planning Mr. Nicholson has just retired and needs \$10,000 per year in

ISBN: 9780470876398 408

## Solution for problem 39 Chapter 1.2

Finite Mathematics, Binder Ready Version: An Applied Approach | 11th Edition

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Finite Mathematics, Binder Ready Version: An Applied Approach | 11th Edition

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Problem 39

Financial Planning Mr. Nicholson has just retired and needs \$10,000 per year in supplementary income. He has \$150,000 to invest and can invest in AA bonds at 10% annual interest or in Savings and Loan Certificates at 5% interest per year. How much money should be invested in each so that he realizes exactly \$10,000 in extra income per year?

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Math 3040 - 1/27/16 February 7, 2016 1 Syllabus Notes ▯ There will be 1 in class prelim, some time near the drop deadline. ▯ There will be 1 in class ▯nal, date to be determined. ▯ There will be 1 paper, due near the end of the semester, to be writen in LaTeX. ▯ Finally, there will be up to 2 retries for all homeworks turned in, for...

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