The director of a trust fund has $300,000 to invest. The rules of the trust...
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Accounting
The director of a trust fund has $300,000 to invest. The rules of the trust state that both a certificate of deposit (CD) and a long-term bond must be used. The Directors goal is to have the trust yield $34000 on its investments for the year. The CD chosen returns 6% per annum, and the bond 7 %. Find the amount, which is invested, in the CD and in the long-term bond.
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