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Mardi received an inheritance of $60,000. She invested part at 10% and deposited the rest the remainder in tax-free bonds at 11%. Her total annual income from the investment was $6100. Fine the amount invested at 10%
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A*10% + B*11%=6100 Where A is the investment and B is the deposit
We know that A + B= 60,000
We want to know what A is right ? So we want to replace the B in the first equation with an A. From the second equation I gave you A + B= 60,000 B= 60,000-A
Replace that with the first and solve for A
A*0.10 + B*0.11=6100
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thank you. answer is 50,000 :)
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