Problems:
Maximizing Profit; Interest and Principle Problem
1. A company makes three products, A, B, and C. There are 500 pounds of raw material available. Each unit of product A requires 2 pounds of raw material, each unit of product B requires 2 pounds of raw material, and each unit of product C requires 3 pounds. The assembly line has 1,000 hours of operation available. Each unit of product A requires 4 hours, while each unit of products B and C requires 5 hours. The company realizes a profit of $500 for each unit of product A, $600 for each unit of product B, and $1,000 for each unit of product C. Formulate (and solve) a linear program to determine how many units of each of the three products the company should make to maximize profits.
2. A bank loaned $15,000, some at an annual rate of 16% and some at an annual rate of 10%. If the income from these loans was $1800, how much was loaned at 10%?