Solve the investment problem.
-Mardi received an inheritance of $\$ 40,000$. She invested part at $12 \%$ and deposited the remainder in tax-free bonds at $7 \%$. Her total annual income from the investments was $\$ 4300$. Find the amount invested at $12 \%$.
A) $\$ 35,700$
B) $\$ 30,000$
C) $\$ 29,000$
D) $\$ 15,000$

Question

Quizplus · Accepted Answer

Let $x$ be the amount invested at $12\%$, and $40,000 - x$ be the amount invested at $7\%$. The total income is the sum of the incomes from both investments: $0.12x + 0.07(40,000 - x) = 4,300$. Solving this equation for $x$ gives $x = 30,000$.

Solve the Investment Problem $40,000\$ 40,000$40,000 She Invested Part At Received

Solve the Investment Problem $\$ 40,000$ She Invested Part At Received