Solve the Problem. -You Inherit $70,000 from a Very Wealthy Grandparent, with the Grandparent

Multiple Choice

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) $50,000 invested at 4%; $20,000 invested at 10%
B) $20,000 invested at 4%; $50,000 invested at 10%
C) $40,000 invested at 4%; $30,000 invested at 10%
D) $30,000 invested at 4%; $40,000 invested at 10%