Question 209296
Shelby inherited 1,000,000. He invested part of the money in a thoroughbred horse-breeding farm and the rest in a southern plantation. If shelby earns 12% on the farm and 2% on the plantation, for a combined profit of 50,000 how much did he invest in the farm?
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Quantity Equation: f + p = 1,000,000
Interest Equation:0.12f + 0.02p = 50000
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Modify the equations and solve for "f":
2f + 2p = 2,000,000
12f+ 2p = 5,000000

10f = 3,000,000
f = 300,000 (amt. invested on the farm)
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Cheers,
Stan H.