Solve the Problem. -You Inherit $10,000 with the Stipulation That for the First

Multiple Choice

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

A) $8000 invested at 6%; $2000 invested at 11%
B) $2000 invested at 6%; $8000 invested at 11%
C) $7000 invested at 6%; $3000 invested at 11%
D) $9000 invested at 6%; $1000 invested at 11%