Solve the Problem. -Mardi Received an Inheritance of $60,000. She Invested Part at Invested

question 316

Multiple Choice

Solve the problem.
-Mardi received an inheritance of $60,000. She invested part at 11% and deposited the remainder in tax-free bonds at 12%. Her total annual income from the investments was $6800. Find the amount invested at 11%.

• A) $39,000
• B) $20,000
• C) $40,000
• D) $53,200

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Definitions:

Positive

In economics, it often refers to statements or propositions that can be tested and validated against real-world data, as opposed to normative, which are value-based.

Infinite

A term used to describe a quantity without bounds or end, often used in mathematics and physics to describe an unquantifiably large magnitude.

Zero

A number representing the absence of any quantity or measure; it is a fundamental concept in mathematics and sciences.

Positive

Referring to a condition or quantity that is more than zero, often associated with good or desirable outcomes.