SOLUTION: At a certain rate of simple interest, $100 will accumulate to $110 after a certain period of time. Find the accumulated value of $500 at a rate of simple interest three fourths as
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Question 1133489: At a certain rate of simple interest, $100 will accumulate to $110 after a certain period of time. Find the accumulated value of $500 at a rate of simple interest three fourths as great over twice as long a period of time. Answer by greenestamps(13198) (Show Source):
The same $110 interest...
multiplied by 5 because the initial amount is 5 times as much;
multiplied by 3/4 because the interest rate is only 3/4 as high; and
multiplied by 2 because the time is twice as long.
