SOLUTION: if 20.80 is earned on a deposit of 4000 for 16 days, how much interest would be earned on a deposit of 6500 for 24 days

Question 1153514: if 20.80 is earned on a deposit of 4000 for 16 days, how much interest would be earned on a deposit of 6500 for 24 days
Answer by ikleyn(52797) (Show Source): You can put this solution on YOUR website!
.


There are two factors in this problem that cause raising the interest.


One factor is the ratio of time periods   = .


The other factor is the ratio of initial deposits   =  = .


Therefore, the interest in the second case is   = 50.70.    ANSWER

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