SOLUTION: Mardi received an inheritance of $70,000. She invested part at 12% and deposited the remainder in tax-free bonds at 9%. Her total annual income from the investments was $8100. Find
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Question 1019096: Mardi received an inheritance of $70,000. She invested part at 12% and deposited the remainder in tax-free bonds at 9%. Her total annual income from the investments was $8100. Find the amount invested at12%.
Recall I=PRT Answer by fractalier(6550) (Show Source):
You can put this solution on YOUR website! Let us call what she invested at 12%, x.
The amount invested at 9% must then be $70000 - x.
The setup looks like this
.12x + .09(70000-x) = 8100
.12x + 6300 - .09x = 8100
.03x + 6300 = 8100
.03x = 1800 and
x = 1800/.03 = $60,000 invested at 12%
