SOLUTION: If Ben invest $40,000 at 4% interest per year, how much additional money must he invest at 5 1/2% to ensure that the interest he receives each year is 4 1/2% of the total amount in
Algebra.Com
Question 897311: If Ben invest $40,000 at 4% interest per year, how much additional money must he invest at 5 1/2% to ensure that the interest he receives each year is 4 1/2% of the total amount invested?
Answer by lwsshak3(11628) (Show Source): You can put this solution on YOUR website!
If Ben invest $40,000 at 4% interest per year, how much additional money must he invest at 5 1/2% to ensure that the interest he receives each year is 4 1/2% of the total amount invested?
***
let x=additional money Ben must invest
4%*40000+5.5%x=4.5%*(40000+x)
.04*40000+.055x=.045*40000+.045x
1600+.055x=1800+.045x
.01x=200
x=20000
additional money Ben must invest=$20,000
RELATED QUESTIONS
If Ben invests $4000 at 4% interest per year, how much additional money must he invest at (answered by stanbon)
If ben invests $4000 at 4% interest per year, how much additional money must he invest at (answered by checkley71)
If Ben ivests $4000 at 4% interest per year,how much additional money must he invest at 5 (answered by ankor@dixie-net.com)
If Ben invests $5000 at 5% interest per year, how much additional money must he
invest... (answered by checkley71,ankor@dixie-net.com)
If Ben invests $4000 at 4% interest per year, how much additional money must he invest at (answered by checkley77)
if ben invests 4000 at 4% interest per year, how much additional money must he invest at... (answered by checkley77,josmiceli)
If Ben invests $4000 at 4% interest per year, how much additional money must he invest at (answered by mananth)
if ben invests $4000 at 4% interest per year then how much additional money must he... (answered by macston)
If Ben invests $4000 at 4% interest per year, how much additional money must he invest at (answered by Theo)