SOLUTION: You inherit $100,000 and will invest the money in two stocks paying 6% and 11% annual dividends, respectively. How much should be invested at each rate if the total dividends earne

SOLUTION: You inherit $100,000 and will invest the money in two stocks paying 6% and 11% annual dividends, respectively. How much should be invested at each rate if the total dividends earne

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Question 928796: You inherit $100,000 and will invest the money in two stocks paying 6% and 11% annual dividends, respectively. How much should be invested at each rate if the total dividends earned for the year is to be $9000?
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
.11x + .06(100000 - x) = 9000
x = 3000/.05, the 11% amount
(100000 - x) the 6% amount

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