document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1064358>Question 1064358</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Wendy was awarded a volleyball scholarship to the University of Michigan, so on graduation her parents gave her the $22,000 they had saved for her college tuition. She opted to invest some money in a privately held company that pays 10 % per year and evenly split the remaining money between a money market account yielding 2 % and a high-risk stock that yielded 40 %. At the end of the first year she had $26,400 total. How much did she invest in each of the three? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #679463 by </B><A HREF=/tutors/aboutme.mpl?userid=jorel1380><B>jorel1380(3719)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jorel1380><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/cgi-bin/show-face.mpl?user=jorel1380><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=679463\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Let n be the amount of money invested at 10% per year.  Then the remaining money is 22000-n. This gets split into two; being .5(22000-n) and another .5(22000-n). If she has $26400 after her first year, she has made 26400-22000=$4400 interest. So:<BR>\n" );
document.write( ".1(n)+.02(.5(22000-n)+.4(.5(22000-n)=4400<BR>\n" );
document.write( "4620-.11n=4400<BR>\n" );
document.write( ".11n=220<BR>\n" );
document.write( "n=2000<BR>\n" );
document.write( "22000-n=20000<BR>\n" );
document.write( "20000/2=10000<BR>\n" );
document.write( "$2000 was invested at 10%; and $10000 was invested at 2% and 40% each. &#9786;&#9786;&#9786;&#9786; </SPAN>\n" );
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