SOLUTION: If ben invests $4000 at 4% interest per year, how much additional money must he invest at 5 1/2% annual interest to ensure that the interest he recieved each year is 4 1/2% of the
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Question 114555: If ben invests $4000 at 4% interest per year, how much additional money must he invest at 5 1/2% annual interest to ensure that the interest he recieved each year is 4 1/2% of the total amount invested? Answer by checkley71(8403) (Show Source):
You can put this solution on YOUR website! .04*4000+.055*X=.045(4000+X)
160+.055X=180+.045
.055X-.045X=180-160
.01X=20
X=20/.01
X=2000 AMOUNT INVESTED @ 5.5%.
PROOF:
.04*4000+.055*2000=.045(4000+2000)
160+110=.045*6000
270=270
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