SOLUTION: An investment of $1500 paid interest of $45 during a certain period. How much interest would an investment of $2000 invested at the same time rate or the same length of time pay?

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Question 306905: An investment of $1500 paid interest of $45 during a certain period. How much interest would an investment of $2000 invested at the same time rate or the same length of time pay?
Answer by ichudov(507) About Me  (Show Source):
You can put this solution on YOUR website!
If $1500 pays interest of $45, then every dollar of it pays 45%2F1500=0.03=3cents per dollar invested. For $2000 invested, the interest would be 2000*0.03 = $60.