# SOLUTION: I forget the steps on how to do this problem! My midterm is in a few hours, if you could help it would be much aprpeciated. You inherit \$10,000 with the stipulation that for the

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 Click here to see ALL problems on Travel Word Problems Question 274150: I forget the steps on how to do this problem! My midterm is in a few hours, if you could help it would be much aprpeciated. You inherit \$10,000 with the stipulation that for the first year the money must be invested in two stocks paying 6% and 11% annual interest, respectively. How much should be invested at each rate if the total interest earned for the year is to be \$700?Found 2 solutions by richwmiller, josmiceli:Answer by richwmiller(9135)   (Show Source): You can put this solution on YOUR website!x and 10000-x .06x+.11*(10000-x)=700 x=8000 at 6 % 2000 at 11% Answer by josmiceli(9668)   (Show Source): You can put this solution on YOUR website!Let = amount invested at 6% Let = amount invested at 11% given: (1) (2) ------------------- Multiply both sides of (1) by and subtract (1) from (2) (2) (1) And, from (1), \$8000 should be invested at 6% and \$2000 should be invested at 11% check: (2) (2) OK