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Invest in federal government bonds

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Jose Perez will invest a total of $55,000. You can choose between Federal Government bonds, which offer an interest rate of 6% per annum, or higher-risk mortgage bonds at 9% per annum. What maximum amount should you invest in federal government bonds, if you want to receive an income of $3,900 for interest? Resolve by cramer law

Reference no: EM132954437

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