Question

Suppose you have $9000 to invest and you invest part of it ($×) in a high risk venture at 11.5% per annum and the remainder with the bank at 4.5% per annum, both for one year.

1) write an algebraic expression for the amount of money invested at 4.5%
2) write an algebraic expression for the interest on ($×) at 11.5% for one year
3)write and simplify an expression for the total interest earned on the whole investment of $9000 after one whole year.
4) if you pay government tax on your interest at a rate fo 33 cents in the dollarwrite and simplify an expression for the amount of money that you receive from your interest after one year,after the tax is paid.

Answer 1

1. $(9000-x) @ 4.5%

2. 0.115*X

3. 0.115X + 0.045(9000-X).
0.115x + 405 - 0.045x
0.07x + 405.

4. 100% - 33% = 67% to Investor.
0.67(0.07x+405) = 0.047x + 19. = Amt.
received by investor.