You inherit 10,000 dollars with the stipulation that for the first year the money must be invested in two stocks paying 6% and 11% annual interest. How much should be inested at each rate if the total interest earned for the year is to be 700$?
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Question

You inherit 10,000 dollars with the stipulation that for the first year the money must be invested in two stocks paying 6% and 11% annual interest. How much should be inested at each rate if the total interest earned for the year is to be 700$?
**Will Give A Medal!!****

evoker · Answer

Set up two equations, one for the total money invested split into two types, and the other based on the interest from each and the total.

wolf1728 · Answer

Or you can solve it using just one equation:
.06X +.11*(10,000 -X) = $700 
where "X" is the amount of money invested at 6 per cent