Question 965190: If interest on a $4,500 loan is $720 what would be the interest on a loan of $ 5, 800
Answer by Theo(13342)   (Show Source):
You can put this solution on YOUR website! 720/4500 = x/5800
cross multiply to get 720 * 5800 = 4500 * x
solve for x to get x = (720 * 5800) / 4500 = 928
assuming the interest rate is the same, then the interest on 5800 should be 928.
let's see if that's true.
interest rate on 720/4500 is equal to .16
.16 * 5800 is equal to 928.
it works.
this is a direct variation type equation.
y = k*x
when y is 720 and x is 4500, then:
720 = k * 4500.
solve for k to get k = 720 / 4500 = .16
now apply k to your new value for x.
y = k * x becomes y = .16 * 5800 which becomes y = 928.
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