A venture capitalist loaned $4.51 million to two different start-ups in hopes of making a profit. The first company, Krazy Komputer, did reasonably well and the venture capitalist received 30% of their investment into the company. On the other hand, the second company, Power Processing, did extremely well and the venture capitalist received 235% of their investment into the company. If the venture capitalist earned a total of $9.02 million on their investment, how much money (in millions of dollars) did the venture capitalist loan each company? Loan to Krazy Komputer: $ Loan to Power Processing: $
A venture capitalist loaned $4.51 million to two different start-ups in hopes of making a profit. The first company, Krazy Komputer, did reasonably well and the venture capitalist received 30% of their investment into the company. On the other hand, the second company, Power Processing, did extremely well and the venture capitalist received 235% of their investment into the company. If the venture capitalist earned a total of $9.02 million on their investment, how much money (in millions of dollars) did the venture capitalist loan each company? Loan to Krazy Komputer: $ Loan to Power Processing: $
Elementary Algebra
17th Edition
ISBN:9780998625713
Author:Lynn Marecek, MaryAnne Anthony-Smith
Publisher:Lynn Marecek, MaryAnne Anthony-Smith
Chapter5: Systems Of Linear Equations
Section5.2: Solve Systems Of Equations By Substitution
Problem 5.47TI: Geraldine has been offered positions by two insurance companies. The first company pays a salary of...
Related questions
Question
A venture capitalist loaned $4.51 million to two different start-ups in hopes of making a profit. The first company, Krazy Komputer, did reasonably well and the venture capitalist received 30% of their investment into the company. On the other hand, the second company, Power Processing, did extremely well and the venture capitalist received 235% of their investment into the company. If the venture capitalist earned a total of $9.02 million on their investment, how much money (in millions of dollars) did the venture capitalist loan each company?
Loan to Krazy Komputer: $
Loan to Power Processing: $
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 2 images
Recommended textbooks for you
Elementary Algebra
Algebra
ISBN:
9780998625713
Author:
Lynn Marecek, MaryAnne Anthony-Smith
Publisher:
OpenStax - Rice University
Elementary Algebra
Algebra
ISBN:
9780998625713
Author:
Lynn Marecek, MaryAnne Anthony-Smith
Publisher:
OpenStax - Rice University
Algebra: Structure And Method, Book 1
Algebra
ISBN:
9780395977224
Author:
Richard G. Brown, Mary P. Dolciani, Robert H. Sorgenfrey, William L. Cole
Publisher:
McDougal Littell
Trigonometry (MindTap Course List)
Trigonometry
ISBN:
9781337278461
Author:
Ron Larson
Publisher:
Cengage Learning