Solve the problem.
-Mardi received an inheritance of $\$ 60,000$. She invested part at $8 \%$ and deposited the remainder in tax-free bonds at $11 \%$. Her total annual income from the investments was $\$ 5700$. Find the amount invested at $8 \%$.
A) $\$ 54,300$
B) $\$ 29,000$
C) $\$ 30,000$
D) $\$ 15,000$

Question

Quizplus · Accepted Answer

Let x be the amount invested at 8%. Then, the amount invested at 11% is $60,000 - x$. The equation for the total income is $0.08x + 0.11(60,000 - x) = 5700$. Solving this equation gives $x = 30,000$.

Solve the Problem $60,000\$ 60,000$60,000 She Invested Part At an Inheritance

Solve the Problem $\$ 60,000$ She Invested Part At an Inheritance