SOLUTION: If Kate earns $16 interest in an investment of $425, find the variation equation for I

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Question 974999: If Kate earns $16 interest in an investment of $425, find the variation equation for I
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
If Kate earns $16 interest in an investment of $425,
find the variation equation for I
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I = Prt
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r = I/(Pt)
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rate = 16/425 = 0.03765 = 3.765%
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Cheers,
Stan H.
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