SOLUTION: If Ben invests $4000 at 4% interest per year, how much additional money must he invest at 5.5% annual interest to ensure that the interest he receives each year is 4.5% of the tota
Algebra ->
Customizable Word Problem Solvers
-> Finance
-> SOLUTION: If Ben invests $4000 at 4% interest per year, how much additional money must he invest at 5.5% annual interest to ensure that the interest he receives each year is 4.5% of the tota
Log On
Question 321159: If Ben invests $4000 at 4% interest per year, how much additional money must he invest at 5.5% annual interest to ensure that the interest he receives each year is 4.5% of the total amount invested? Answer by mananth(16946) (Show Source):
You can put this solution on YOUR website! If Ben invests $4000 at 4% interest per year, how much additional money must he invest at 5.5% annual interest to ensure that the interest he receives each year is 4.5% of the total amount invested?
..
let the additional amount to be invested be $x at 5.5%
$4000 at 4%
Total invested will be 4000+x , interest 4.5%
..
Interest at 4% +interest at5.5% = iinterest at4.5%
0.04*4000+0.055x=0.045(4000+x)
160+0.055x=180+0.045x
0.055x-0.045x=180-160
0.010x=20
x= 20/0.010
$ 2000 must be invested at 5.5%
