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
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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?
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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
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