SOLUTION: An investment club used funds totaling $300,000 to invest in a bio-tech company and in an ethanol plant, with hopes of earning 12% and 15% annual simple interest, respectively. The

Question 1092416: An investment club used funds totaling $300,000 to invest in a bio-tech company and in an ethanol plant, with hopes of earning 12% and 15% annual simple interest, respectively. Their hunch paid off. The club made a total of $38,400 interest the first year. How much was invested at each rate?
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
Let = amount invested @ 12%
= amount invested @ 15%
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and

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The amount invested @ 12% is $220, 000
The amount invested @ 15% is $80,000
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check the math

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