Question

Kimberly wants to invest $3,000 in an account that earns 4% annual interest, and x dollars in an account that earns 7%, so that, on average, she earns 5.5% interest for both accounts. Select the equation to model the situation.

A. 0.04(3,000) + 0.07x = 0.55x
B. 0.055(3,000 + x) = 120 + 0.07x
C. 0.04x + 0.07x = 3,000
D. 0.055(3,000) = 0.04x + 0.07x

Answer 1

Answer:

Assuming that the money is invested at simple interest for one year, we have:

0.04(3000) + 0.07x = 0.55(3000 + x)

So, 120 + 0.07x = 0.55(3000 + x).

HENCE,

The correct answer is B.

Answer 2

Answer:

=> Assuming that the money is invested at simple interest for 1 year, we have: 0.04(3000) + 0.07x = 0.55(3000 + x).

=> So, 120 + 0.07x = 0.55(3000 + x).

Then, the answer is:

0.055(3000 + x) = 120 + 0.07x.

Step-by-step explanation:

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