Question 306554: Mardi received an inheritance of $60,000. She invested part at 10% and deposited the remainder in
tax-free bonds at 8%. Her total annual income from the investments was $5800. Find the amount
invested at 10%.
Found 2 solutions by checkley77, mananth:
Answer by checkley77(12844)   (Show Source):
You can put this solution on YOUR website! .10x+.08(60,000-x)=5,800
.10x+4,800-.08x=5,800
.02x=5,800-4,800
.02x=1,000
x=1,000/.02
x=50,000 amount invested @ 10%.
60,000-50,000=10,000 amount invested @ 8%.
Proof:
.10*50,000+.08*10,000=5,800
5,000+800=5,800
5,800=5,800
Answer by mananth(16946)  (Show Source):
You can put this solution on YOUR website! Mardi received an inheritance of $60,000. She invested part at 10% and deposited the remainder in
tax-free bonds at 8%. Her total annual income from the investments was $5800. Find the amount
invested at 10%.
let her invest $x at 10%
interest got from this investment will be 0.1*x
She will invest 60000-x at 8%
interest got from this will be 0.08(60000-x)
total interest she got was 5800
0.1x+0.08(60000-x)= 5800
0.1x - 0.08x + 4800= 5800
0.02x= 1000
x= 1000/0.02
x=50,000
$ 50,000 she invested at 10%
|
|
|
