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Use the Five-Step Strategy for Solving Word Problems to Find $70,000\$ 70,000

Question 108

Multiple Choice

Use the five-step strategy for solving word problems to find the number or numbers described in the following
exercise.
-You inherit $70,000\$ 70,000 from a very wealthy grandparent, with the stipulation that for the first year, the money must be invested in two stocks paying 4%4 \% and 10%10 \% annual interest, respectively. How much should be invested at each rate if the total interest earned for the year is to be $4000\$ 4000 ?


A) $50,000\$ 50,000 invested at 4%4 \% ; $20,000\$ 20,000 invested at 10%10 \%
B) $20,000\$ 20,000 invested at 4%4 \% ; $50,000\$ 50,000 invested at 10%10 \%
C) $40,000\$ 40,000 invested at 4%4 \% ; $30,000\$ 30,000 invested at 10%10 \%
D) $30,000\$ 30,000 invested at 4%4 \% : $40,000\$ 40,000 invested at 10%10 \%

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