- #1
Elissa89
- 52
- 0
So I have an investment word problem that I have tried multiple times and have not been able to get the right answer.
"If Ben invests $4500 at 4% interest per year, how much additional money must he invest at 5.5% annual interest to ensure that the interest he receives is 4.5% of the total amount invested?
Here's my set up:
x= unknown amount invested
y=total amount invested
4500+y=x
4500(.04)+.055=.045y
I then solved for the variables and it was incorrect.
Help please.
"If Ben invests $4500 at 4% interest per year, how much additional money must he invest at 5.5% annual interest to ensure that the interest he receives is 4.5% of the total amount invested?
Here's my set up:
x= unknown amount invested
y=total amount invested
4500+y=x
4500(.04)+.055=.045y
I then solved for the variables and it was incorrect.
Help please.