SOLUTION: Mardi received an inheritance of $50,000. She invested part at 8% and deposited the remainder in a tax-free bond at 12%. Her total annual income from the investments was $4,800.
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Question 74503: Mardi received an inheritance of $50,000. She invested part at 8% and deposited the remainder in a tax-free bond at 12%. Her total annual income from the investments was $4,800. Find the amount invested at 8%.
Answer by scott8148(6628) (Show Source): You can put this solution on YOUR website!
x at 8%; (50000-x) at 12%
.08x + .12(50000-x) = 4800
.08x + 6000 - .12x = 4800
6000 - .04x = 4800
1200 = .04x
30000 = x
$30,000 at 8%
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