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 m
Mathematics
Neshia31
Question
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?
1 Answer

1. User Answers Aliwohaish12
0.08x+.11 (12000x)=1185
Solve for x
X=4500 at 8%
120004500=7500 at 11%