SOLUTION: Kevin earned $165 intrest for 1 year on an investment of $1500.00. At the same rate, what amount of intrest would be earned on $2500.00?

Algebra ->  Algebra  -> Customizable Word Problem Solvers  -> Finance -> SOLUTION: Kevin earned $165 intrest for 1 year on an investment of $1500.00. At the same rate, what amount of intrest would be earned on $2500.00?      Log On

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Question 57056: Kevin earned $165 intrest for 1 year on an investment of $1500.00. At the same rate, what amount of intrest would be earned on $2500.00?
Answer by josmiceli(6784) About Me  (Show Source):
You can put this solution on YOUR website!
You are earning interest at a rate of $165 for every $1500 invested
165 / 1500 = .11
11% interest
(.11) * (2500) = 275
$275 answer