Solve the Problem. -You Inherit $10,000 with the Stipulation That for the First

question 41

Multiple Choice

Solve the problem.
-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?

• A)$2000 invested at 6%; $8000 invested at 11%
• B)$9000 invested at 6%; $1000 invested at 11%
• C)$8000 invested at 6%; $2000 invested at 11%
• D)$7000 invested at 6%; $3000 invested at 11%

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