# SOLUTION: IF CASEY INVESTED \$3500 IN AN ACCOUNT AND EARNED \$112.50 SIMPLE INTEREST THE FIRST YEAR. wHAT WAS THE SIMPLE INTEREST RATE?

Algebra ->  Algebra  -> Percentage-and-ratio-word-problems -> SOLUTION: IF CASEY INVESTED \$3500 IN AN ACCOUNT AND EARNED \$112.50 SIMPLE INTEREST THE FIRST YEAR. wHAT WAS THE SIMPLE INTEREST RATE?      Log On

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 Click here to see ALL problems on Percentage-and-ratio-word-problems Question 214055: IF CASEY INVESTED \$3500 IN AN ACCOUNT AND EARNED \$112.50 SIMPLE INTEREST THE FIRST YEAR. wHAT WAS THE SIMPLE INTEREST RATE?Answer by Theo(3464)   (Show Source): You can put this solution on YOUR website!112.50/3500 = .032142857 * 100% = 3.214285714% ----- If you multiply \$3500 * the interest rate you will get \$112.50 \$3500 * .032142857 = \$112.50