SOLUTION: The amount of simple intrest earned in an account varies jointly as the amount of principal invested and the amount of time the money is invested. If $6,000 in principal earns $840
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Question 326601: The amount of simple intrest earned in an account varies jointly as the amount of principal invested and the amount of time the money is invested. If $6,000 in principal earns $840 in interest after 2yr, then how much intrested will be earned on $4,500 invested for 8yr?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
840=6000*r*2
840=12000r
r=0.07=7%
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i=4500*0.07*8
i=$2,520
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