Question

alyssa received 30,000 from an inheritance and invests in a certificate of deposit paying 5% annual interest and the rest in apple inc. offering an annual return of 11%. if the annual income from her income from her investment is 2220.00, how much did alyssa invest in each?

Answer 1

Since her annual return is 2220.00 as well as 11% of her investment in Apple, we can divide it by 11 and multiply that by 100 to get her investment in Apple, which would be 20181+81/99. Since she only invested in 2 things, her investment in her certificate of deposit is 30,000-(20181+81/99)=9818+18/99