SOLUTION: if 20.80 is earned on a deposit of 4000 for 16 days, how much interest would be earned on a deposit of 6500 for 24 days
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Question 1153514: if 20.80 is earned on a deposit of 4000 for 16 days, how much interest would be earned on a deposit of 6500 for 24 days Answer by ikleyn(52795) (Show Source):
There are two factors in this problem that cause raising the interest.
One factor is the ratio of time periods = .
The other factor is the ratio of initial deposits = = .
Therefore, the interest in the second case is = 50.70. ANSWER
