Neshia31 Neshia31

01-05-2017
Mathematics

contestada

You inherit $12,000 with the stipulation that for the first year the money must be invested in two stocks paying 8% and 11% annual interest, respectively. How much should be invested at each rate if the total interest earned for the year is to be $1185?

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Aliwohaish12 Aliwohaish12

01-05-2017

0.08x+.11 (12000-x)=1185
Solve for x
X=4500 at 8%

12000-4500=7500 at 11%

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