Certificate of Deposit

Question: Jacob purchases municipal bonds which yield 7% yearly and certificates of deposit which yield 8% yearly.?

If his initial investment was $15,000 and the yearly income is $1,090, how much money is invested in bonds and how much is invested in certificates of deposit?

Answer: X = muni bonds
Y = c.d.’s

X + Y = 15,000
.07x + .08y = 1090

x = 15,000 – y
.07(15,000 – y) + .08y =1090
.01y = 1090 – 1050
y = 4,000
x = 11,000

Bank CD at 18% APY. High Yield Certificate Of Deposit in Europe. Video uploaded by Oldinvestor