document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=178776>Question 178776</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A small company has $24,000 to invest. It invested some of the money in a bank that paid 8% annual simple interest. The rest of the money was invested in stocks that paid dividends equivalent to 11% annual simple interest. t the end of 1 year, the combined income form these investments was $2,340. How much was originally invested in stocks? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #133759 by </B><A HREF=/tutors/aboutme.mpl?userid=Mathtut><B>Mathtut(3670)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Mathtut><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=133759\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> let x and y be the amount of money invested at 8 and 11%, respectively<BR>\n" );
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document.write( "x+y=24000.........eq 1<BR>\n" );
document.write( ".08x+.11y=2340....eq 2<BR>\n" );
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document.write( "rewrite eq 1 to x=24000-y and plug that value into eq 2<BR>\n" );
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document.write( ".08(24000-y)+.11y=2340<BR>\n" );
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document.write( "1920-08y+.11y=2340<BR>\n" );
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document.write( ".03y=420<BR>\n" );
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document.write( "$<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=highlight%2814000%29 ALIGN=MIDDLE  ALT=\"highlight%2814000%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >invested at 11%<BR>\n" );
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document.write( "$<IMG STYLE=\"max-width:80%;\" SRC=/cgi-bin/plot-formula.mpl?expression=highlight%28x=24000-14000=10000%29 ALIGN=MIDDLE  ALT=\"highlight%28x=24000-14000=10000%29\"   DISABLED_style= \"max-width:90%; height:auto;\" >invested at 8% </SPAN>\n" );
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