SOLUTION: Here is my question i have to solve for homework and am very confused: Shaun invests $4000 at 4% interest per year. How much additional money must he invest at 5.5% interest pe

Algebra ->  Coordinate Systems and Linear Equations  -> Linear Equations and Systems Word Problems -> SOLUTION: Here is my question i have to solve for homework and am very confused: Shaun invests $4000 at 4% interest per year. How much additional money must he invest at 5.5% interest pe      Log On


   

Question 302597: Here is my question i have to solve for homework and am very confused:
Shaun invests $4000 at 4% interest per year.
How much additional money must he invest at 5.5% interest per year to ensure that the interest he recieves each year is 4.5% of the total amount invested?
Please get back to me as soon as possible.
Thank you
Caylee
Answer by mananth(16949) About Me  (Show Source):
You can put this solution on YOUR website!
Shaun invests $4000 at 4% interest per year.
How much additional money must he invest at 5.5% interest per year to ensure that the interest he recieves each year is 4.5% of the total amount invested?
$4000 @ 4%
$x @ 5.5%
Interest received = 4.5%(x+4000)
0.04 *4000 + 0.055x = 0.045x+ 180
160.00+0.055x -0.045x =180
0.01x=20
x= 20 / 0.01
x=2000
He has to invest $ 2000 At 5.5%