Consider a person who invests in AAA-rated bonds, A-rated bonds, and B-rated bonds. The average yields are 6.5% on AAA bonds, 7% on A bonds, and 9% on B bonds. The person invests twice as much in B bonds as in A bonds. Let x, y and z represent the amounts invested in AAA, A, and B bonds, respectively.
Total Investment
Annual Return
$12,000
890
Use the inverse of the coefficient matrix of this system to find the amount invested in each type of bond.
A. $7,000 in AAA-rated bonds$2,000 in A-rated bonds$4,000 in B-rated bonds
B. $5,000 in AAA-rated bonds$7,000 in A-rated bonds$3,000 in B-rated bonds
C. $5,000 in AAA-rated bonds$6,000 in A-rated bonds$4,000 in B-rated bonds
D. $3,000 in AAA-rated bonds $2,000 in A-rated bonds$6,000 in B-rated bonds
E. $6,000 in AAA-rated bonds$2,000 in A-rated bonds$4,000 in B-rated bonds
Answer: E
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