Solve the problem.You inherit $70,000 from a very wealthy grandparent, with the stipulation that for the first year, the money must be invested in two stocks paying 4% and 10% annual interest, respectively. How much should be invested at each rate if the total interest earned for the year is to be $4000?
A. $30,000 invested at 4%; $40,000 invested at 10%
B. $40,000 invested at 4%; $30,000 invested at 10%
C. $50,000 invested at 4%; $20,000 invested at 10%
D. $20,000 invested at 4%; $50,000 invested at 10%
Answer: C
Mathematics
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A.
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