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 = 0.55xB.0.055(3,000 + x) = 120 + 0.07xC.0.04x + 0.07x = 3,000D.0.055(3,000) = 0.04x + 0.07x

Answer 1

B- .0.055(3,000 + x) = 120 + 0.07x

Answer 2

As given by the question

There are given that the total investment money is $3000 and earns 4% annual interest.

Now,

x dollars in an account that earns 7% and that earns 5.5% interest for both accounts.

Then, for the equation

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

We have:

`\begin{gathered} 0.04(3000)+0.07x=0.055(3000+x) \\ 120+0.07x=0.055(3000+x) \end{gathered}`

Hence, the correct option is B