document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=228604>Question 228604</A>: <I><SPAN STYLE=\"word-break: break-all;\"> <BR>\n" );
document.write( "A small company had $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. At the end of 1 year, the combined income from 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 #169663 by </B><A HREF=/tutors/aboutme.mpl?userid=checkley77><B>checkley77(12844)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=checkley77><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=169663\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> .11x+.08(24,000-x)=2,340<BR>\n" );
document.write( ".11x+1,920-.08x=2,340<BR>\n" );
document.write( ".03x=2,340-1,920<BR>\n" );
document.write( ".03x=420<BR>\n" );
document.write( "x=420/.03<BR>\n" );
document.write( "x=14,000 amount invested @ 11%.<BR>\n" );
document.write( "24,000-14,000=10,000 invested @ 8%.<BR>\n" );
document.write( "Proof:<BR>\n" );
document.write( ".11*14,000+.08*10,000=2,340<BR>\n" );
document.write( "1,540+800=2,340<BR>\n" );
document.write( "2,340=2,340 </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );