Solve the problem.
-You inherit $10,000 with the stipulation that for the first year the money must be invested in two stocks paying 6% and 11% annual interest, respectively. How much should be invested at each rate if the total
Interest earned for the year is to be $700?
A)$8000 invested at 6%; $2000 invested at 11%
B)$2000 invested at 6%; $8000 invested at 11%
C)$7000 invested at 6%; $3000 invested at 11%
D)$9000 invested at 6%; $1000 invested at 11%

Question

Quizplus · Accepted Answer

To earn $700 in interest, $8000 should be invested at 6% ($480 interest) and $2000 at 11% ($220 interest), totaling $700.

Solve the Problem. -You Inherit $10,000 with the Stipulation That for the First