Todd just retired, and has $630,000 to invest. A very safe Certificate of Deposit (CD) account pays 1%, while a riskier bond fund pays 5% in interest. Todd figures he needs $28,000 a year in interest to live on. How much should he invest in each account to make enough interest while minimizing his risk?
$ at 1%
$ at 5%
Round answers to the nearest dollar.
$ at 1%
$ at 5%
Round answers to the nearest dollar.