Solve the Problem. -Mardi Received an Inheritance of $70,000. She Invested Part at Invested

question 89

Multiple Choice

Solve the problem.
-Mardi received an inheritance of $70,000. She invested part at 10% and deposited the remainder in tax-free bonds at 8%. Her total annual income from the investments was $6200. Find the amount invested at 10%.

• A)$15,000
• B)$30,000
• C)$63,800
• D)$29,000

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Definitions:

LLC

Limited Liability Company, a business structure in the United States that offers personal liability protection and pass-through taxation to its owners.

Members' Rights

The legal entitlements and privileges granted to individuals who are part of an organization, club, company, or any group with a formal membership structure.

Limited Liability Company

A commercial entity setup that integrates the benefit of paying taxes only once, as seen in partnerships or sole proprietorships, with the advantage of limited personal risk akin to that in a corporation.

Noncorporate Business

An enterprise that operates for profit but is not legally incorporated; examples include sole proprietorships and partnerships.