SOLUTION: Kevin earned $165 interest for 1 year on an investment of $1500. At the same rate, what amount of interest would be earned by an investment of $2500.?
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Question 53604: Kevin earned $165 interest for 1 year on an investment of $1500. At the same rate, what amount of interest would be earned by an investment of $2500.?
Answer by piglet162431(90) (Show Source): You can put this solution on YOUR website!
i=prt
that means that
165=(1500)r(1)
165=1500r
r=.11 which is 11%
now that we figured out the rate, we can figure out the amount of interest with investment of 2500
i=(2500)(.11)(1)
i=$275
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