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You inherit $70,000 from a very wealthy grandparent, with the stipulation that for ...

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You inherit $70,000 from a very wealthy grandparent, with the stipulation that for ...

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You inherit $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% and 10% annual interest, respectively. How much should be invested at each rate if the total interest earned for the year is to be $4000?

▸ $30,000 invested at 4%; $40,000 invested at 10%

▸ $20,000 invested at 4%; $50,000 invested at 10%

▸ $40,000 invested at 4%; $30,000 invested at 10%

▸ $50,000 invested at 4%; $20,000 invested at 10%

Textbook

College Algebra

Edition: 7^th

Author: Blitzer

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