SOLUTION: Kevin earned $165 interest for 1 year on an investment of $ 1500. At the same rare, what amount of interest would be earned by an investment of $2500?
I came up with the interes
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I came up with the interes
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Question 72129: Kevin earned $165 interest for 1 year on an investment of $ 1500. At the same rare, what amount of interest would be earned by an investment of $2500?
I came up with the interest amount of 0.04% or 4% interest. Is this correct. Thanks Answer by checkley75(3666) (Show Source):
You can put this solution on YOUR website! NO! I'M AFRAID THE 4% ANSWER IS NOT CORRECT.
165/1500=.11 OR 11% INTEREST FOR 1 YEAR. SO FOR AN INVESTMENT OF
2500*.11=$275 INTEREST FOR 1 YEAR.
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