SOLUTION: Mardi received an inheritance of $70,000. She invested part at 10% and deposited the remainder in tax-free bonds at 8%. Her total annual income from the investments was $6800. F

Question 312217: Mardi received an inheritance of $70,000. She invested part at 10% and deposited the remainder in tax-free bonds at 8%. Her total annual income from the investments was $6800. Find the amount invested at 10%.
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
.10x+.08(70,000-x)=6,800
.10x+5,600-.08x=6,800
.02x=6,800-5,600
.02x=1,200
x=1,200/.02
x=$60,000 amount invested @ 10%.
Proof:
.10*60,000+.08(70,000-60,000)=6,800
6,000+.08*10,000=6,800
6,000+800=6,800
6,800=6,800
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