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Mardi received an inheritance of $60,000. she investrf part at 11% and deposited the remainder in tax-free bonds at 12%. her total annual income from the investments was $6800. find the ammount invested at 11%.

Respuesta :

When Mardi received an inheritance of $60000, she invested part at 11% and deposited the remainder in tax-free bonds at 12%, so she gets $6800as annual income then the amount invested at 11% is $20000

Given,

The total amount Mardi received = $60000

She invested part at 11% and deposited the remainder in tax-free bonds at 12%.

Annual income from the investment = $6800

Consider the part of money invested at 11% as x

Then the equation will become

(60000-x)0.11+0.12x =6800

6600-0.11x+0.12x =6800

0.01x+6600=6800

0.01x=200

x= $20000

Hence, when Mardi received an inheritance of $60000, she invested part at 11% and deposited the remainder in tax-free bonds at 12%, so she gets $6800 as annual income then the amount invested at 11% is $20000

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