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 110160: 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 checkley71(8403) (Show Source): You can put this solution on YOUR website!
I=PRT
165=1500*R*1
1500R=165
R=165/1500
R=.1 OR 11% INTEREST.
I=2500*.11
I=$275 INTEREST ON $2500 FOR 1 YEAR @ 11%.
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