SOLUTION: Hello. I'm having some difficulty figuring out the following word problem, Can you help me? If Ben invests $3000 at 4% interest per year, how much additional money must he inv

Question 196220: Hello.
I'm having some difficulty figuring out the following word problem, Can you help me?
If Ben invests $3000 at 4% interest per year, how much additional money must he invest at 5 1/2% annual interest to ensure that the interest he receives each year is 4 1/2% of the total amount invested?
thanks!
Answer by vleith(2983) (Show Source): You can put this solution on YOUR website!
I;ll set it up, you can take it from there.
Assume the extra amount at 5.5% is X
Then

now collect terms and solve for X
Any issue, let me know
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