SOLUTION: Help me solve this word problem 1 If $24,000 is invested for one year at 5.5% simple interest, how much interest is earned? 2 If Gloria received a raise of 12 percent and is now ma

SOLUTION: Help me solve this word problem 1 If $24,000 is invested for one year at 5.5% simple interest, how much interest is earned? 2 If Gloria received a raise of 12 percent and is now ma

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Question 341495: Help me solve this word problem 1 If $24,000 is invested for one year at 5.5% simple interest, how much interest is earned? 2 If Gloria received a raise of 12 percent and is now making $25,760 a year, what was her salary before the raise?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
24000*0.055=$1320
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25760/1.12=$23,000
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