A $90,000 trust is invested in bonds paying 7%, CDs paying 6%, and mortgages paying 9%. The sum of the inv. in bonds and CDs is equal to the mortgae inv. To earn $6890 annually, how much is in bonds?

⚑ Flag

bonds = bCD = cmortgage = mb+c+m=90000b+c=mSubstitute:b+c+m=m+m=2m=90000 or m=45000Also, b+c=m=45000 or c=45000-bNow for the final equation:6890 = .07(b)+.06(c) + .09(m)Using the above substitutions:6890 = .07(b) + .06(45000-b) +.09(45000)Now, I leave it for you to solve for b which is the amount in bonds.Hope that helps