Solve the problem.
-Mardi received an inheritance of $70,000. She invested part at 10% and deposited the remainder in tax-free bonds at 8%. Her total annual income from the investments was $6200. Find the amount invested at 10%.
A)$15,000
B)$30,000
C)$63,800
D)$29,000

Question

Quizplus · Accepted Answer

Mardi invested $30,000 at 10% to earn a total of $6200 annually, with the rest at 8%. This is determined by setting up the equation 0.10x + 0.08(70,000 - x) = 6,200, where x is the amount invested at 10%. Solving for x gives $30,000.

Solve the Problem. -Mardi Received an Inheritance of $70,000. She Invested Part at Invested