SOLUTION: The yearly interest at 4 1/2% (fraction) on a certain sum of money was $36. Find the value of the yearly interest on the same amount at 6 1/4% (fraction).

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Question 1098437: The yearly interest at 4 1/2% (fraction) on a certain sum of money was $36. Find the value of the yearly interest on the same amount at 6 1/4% (fraction).
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
+I+=+P%2Ar%2At+
+36+=+P%2A.045%2A1+
+P+=+36%2F.045+
+P+=+800+
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+I+=+800%2A.0625%2A1+
+I+=+50+
The yearly interest is $50