SOLUTION: How would I solve this?
An investment of $1500 paid interest of $45 during a certain period. How much interest would an investment of $2000 invested at the same rate for the sa
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Question 458391: How would I solve this?
An investment of $1500 paid interest of $45 during a certain period. How much interest would an investment of $2000 invested at the same rate for the same length of time pay?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
How would I solve this?
An investment of $1500 paid interest of $45 during a certain period. How much interest would an investment of $2000 invested at the same rate for the same length of time pay?
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I = Prt
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45 = 1500rt
I = 2000rt
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Set up a proportion:
I/45 = 2000/1500
I = 45(2000/1500)
I = 45(4/3)
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Interest on $2000 = $60
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Cheers,
Stan H.
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