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)$2000 invested at 6%; $8000 invested at 11%
B)$9000 invested at 6%; $1000 invested at 11%
C)$8000 invested at 6%; $2000 invested at 11%
D)$7000 invested at 6%; $3000 invested at 11%

Question

Quizplus · Accepted Answer

The Answer of 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)$2000 invested at 6%; $8000 invested at 11%
B)$9000 invested at 6%; $1000 invested at 11%
C)$8000 invested at 6%; $2000 invested at 11%
D)$7000 invested at 6%; $3000 invested at 11%

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