SOLUTION: Mardi received an inheritance of $60,000. She invested part at 9% and deposited the remainder in tax-free bonds at 8%. Her total annual income from the investments was $5100. Find

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Question 1161203: Mardi received an inheritance of $60,000. She invested part at 9% and deposited the remainder in tax-free bonds at 8%. Her total annual income from the investments was $5100. Find the amount invested at 9%.
Found 3 solutions by josgarithmetic, greenestamps, MathTherapy:
Answer by josgarithmetic(39618)   (Show Source): You can put this solution on YOUR website!
y amount at 9%
60000-y amount at 8%


Answer by greenestamps(13200)   (Show Source): You can put this solution on YOUR website!


All $60,000 invested at 9% would have earned $5400 income; all at 8% would have earned $4800 income.

The actual income, $5100, is exactly halfway between $4800 and $5400; that means the total was split equally between the two investments.

ANSWER: $30,000 at 9%
Answer by MathTherapy(10552)   (Show Source): You can put this solution on YOUR website!

Mardi received an inheritance of $60,000. She invested part at 9% and deposited the remainder in tax-free bonds at 8%. Her total annual income from the investments was $5100. Find the amount invested at 9%.
Interest RATE earned on the 2 investments: 

Since .085, or 8.5% falls MIDWAY between 8% and 9%, then amount invested in 9% and also 8% would be:  

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