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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.

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Kalahira
Answer: 11x+.06(10,000-x)=700 .11x+600-.06x=700 .05x=700-600 .05x=100 x=100/.05 x=2,000 the amount invested @ 11%. 10,000-2,000=8,ooo the amount invested @ 6%. Proof: .11*2,000+.06*8,000=700 220+480700 700=700

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