Least common denominator for 8 9 x
1 answer:
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Answer: The answers are given below.
Step-by-step explanation: Given in the question that Kent invested $5000 in a retirement plan. He allocated x dollars of the money to a bond account that earns 4% interest per year and the rest to a traditional account that earns 5% interest per year.
(A) Let, '$y' be the amount of money Kent invested in the traditional account, then we have
This is the required expression.
(B) After 1 year, total money in the bond account will be
and amount of money in the traditional account will be
Therefore, total amount invested after 1 year will be
(C) If x = $500, then we have
Thus, Kent will have $5042.5 in his retirement plan after 1 year.