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Question 150870: Wesley invested $6500 in a mutual fun at a yearly rate of 3 3/4%. If he has earned $975 in interest, how long has the money been invested?
A. 2.5 years B. 3 years C. 4 years D. 4.5 years: Wesley invested $6500 in a mutual fun at a yearly rate of 3 3/4%. If he has earned $975 in interest, how long has the money been invested?
A. 2.5 years B. 3 years C. 4 years D. 4.5 years
Answer by mangopeeler07(441)  (Show Source):
You can put this solution on YOUR website!3.75% of 6500
x/6500=3.75/100
Cross multiply
100x=24375
Divide by 100
x=243.75
243.75 each year for x years=$975
975/243.75=x
4=x
Answer:
C) 4 years
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