SOLUTION: Mardi received an inheritance of $50,000. She invested part at 8% and deposited the remainder in tax-free bonds at 12%. Her total annual income from the investments was $4,800.
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Question 60952: Mardi received an inheritance of $50,000. She invested part at 8% and deposited the remainder in tax-free bonds at 12%. Her total annual income from the investments was $4,800. What amount was invested at 8%?
Answer by checkley71(8403) (Show Source): You can put this solution on YOUR website!
.08x+.12(50000-x)=4800
.08x+6000-.12x=4800
-.04x=4800-6000
-.04x=-1200
x=-1200/.04
x=30000 invested @ 8%
proof
.08*30000+.12*20000=4800
2400+2400=4800
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