Precalculus: Mathematics for Calculus, 7th Edition

Published by Brooks Cole
ISBN 10: 1305071751
ISBN 13: 978-1-30507-175-9

Chapter 1 - Section 1.7 - Modeling with Equations - 1.7 Exercises - Page 75: 26

Answer

2000

Work Step by Step

He invests 4000 at 4% interest and and invests some other amount (x that we have to calculate) at 5.5% interest so that the interest he receives each year is 4.5% of the total amount invested (4000 + x). 4000$\times$0.04 + 0.055x=(4000+x)$\times$0.045 160+0.055x=180+0.045x now subtract 0.045x 0.01x=20 divide by 0.01 x=2000
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