investments: If ben invests $4000 at 4% interest per year,

[Megan*]

Investments: 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?

 

[galactus]

Let x= amount invested at 5.5%


Interest at 4%=(.04)4000

Interest at 5.5%=(.055)x


Total interest is 4.5% of total invested=.045(x+4000)


\(\displaystyle (.04)4000+.055x=.045(x+4000)\)

Solve for x.