Set up an equation that can be used to solve the problem. Solve the equation and answer the question asked.
-You inherit $70,000 from a very wealthy grandparent, with the stipulation that for the first year, the money must be invested in two stocks paying 4% and 10% annual interest, respectively. How much should be invested
At each rate if the total interest earned for the year is to be $4000?
A) $40,000 invested at 4%; $30,000 invested at 10%
B) $50,000 invested at 4%; $20,000 invested at 10%
C) $20,000 invested at 4%; $50,000 invested at 10%
D) $30,000 invested at 4%; $40,000 invested at 10%

Question

Quizplus · Accepted Answer

The Answer of Set up an equation that can be used to solve the problem. Solve the equation and answer the question asked.
-You inherit $70,000 from a very wealthy grandparent, with the stipulation that for the first year, the money must be invested in two stocks paying 4% and 10% annual interest, respectively. How much should be invested
At each rate if the total interest earned for the year is to be $4000?
A) $40,000 invested at 4%; $30,000 invested at 10%
B) $50,000 invested at 4%; $20,000 invested at 10%
C) $20,000 invested at 4%; $50,000 invested at 10%
D) $30,000 invested at 4%; $40,000 invested at 10%

Set Up an Equation That Can Be Used to Solve