document.write( "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? \n" ); document.write( "

Algebra.Com's Answer #707094 by josmiceli(19441) $\"\"$ $\"About$

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Let $\"+x+\"$ = amount invested @ 12%
\n" ); document.write( " $\"+300000+-+x+\"$ = amount invested @ 15%
\n" ); document.write( "----------------------------------------
\n" ); document.write( " $\"+.12x+%2B+.15%2A%28+300000+-+x+%29+=+38400+\"$
\n" ); document.write( "----------------------------------------
\n" ); document.write( " $\"+.12x+%2B+45000+-+.15x+=+38400+\"$
\n" ); document.write( " $\"+.03x+=+45000+-+38400+\"$
\n" ); document.write( " $\"+.03x+=+6600+\"$
\n" ); document.write( " $\"+x+=+220000+\"$
\n" ); document.write( "and
\n" ); document.write( " $\"+300000+-+x+=+300000+-+220000+\"$
\n" ); document.write( " $\"+300000+-+x+=+80000+\"$
\n" ); document.write( "-------------------------------------
\n" ); document.write( "The amount invested @ 12% is $220, 000
\n" ); document.write( "The amount invested @ 15% is $80,000
\n" ); document.write( "-----------------
\n" ); document.write( "check the math
\n" ); document.write( " \n" ); document.write( "

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