Solve the problem.

-Mardi received an inheritance of $60,000. She invested part at 12% and deposited the remainder in tax-free bonds at 10%. Her total annual income from the investments was $6600. Find the amount
Invested at 12%.
A) $30,000
B) $15,000
C) $29,000
D) $53,400

Question

Solve the problem.

-Mardi received an inheritance of $60,000. She invested part at 12% and deposited the remainder in tax-free bonds at 10%. Her total annual income from the investments was $6600. Find the amount
Invested at 12%.
A) $30,000
B) $15,000
C) $29,000
D) $53,400

Quizplus · Accepted Answer

Let x be the amount invested at 12%, then the remainder (60000 - x) is invested at 10%. The total income is the sum of the interests from both investments: 0.12x + 0.10(60000 - x) = 6600. Solving this equation for x gives x = $30,000.

Solve the Problem. -Mardi Received an Inheritance of $60,000. She Invested Part at She