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You inherit $10,000 with the stipulation that for the first year the money must be ...

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You inherit $10,000 with the stipulation that for the first year the money must be ...

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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?

▸ $7000 invested at 6%; $3000 invested at 11%

▸ $2000 invested at 6%; $8000 invested at 11%

▸ $9000 invested at 6%; $1000 invested at 11%

▸ $8000 invested at 6%; $2000 invested at 11%

Textbook

College Algebra

Edition: 7^th

Author: Blitzer

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GUILLEMR

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More solutions for this book are available here

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teojianrong Author

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3 years ago

Good timing, thanks!

7.prime7105

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Smart ... Thanks!

Starfiew

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You make an excellent tutor!

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