Solve the problem.You inherit $28,000 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 $1600?

A. $8000 invested at 4%; $20,000 invested at 10%
B. $10,000 invested at 4%; $18,000 invested at 10%
C. $20,000 invested at 4%; $8000 invested at 10%
D. $18,000 invested at 4%; $10,000 invested at 10%


Answer: C

Mathematics

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