SOLUTION: The amount of simple interest earned in an account varies jointly as the interest rate and time of the investment. An account earns $200 in 2yr at 4% interest. How much interest wo
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Question 1052936: The amount of simple interest earned in an account varies jointly as the interest rate and time of the investment. An account earns $200 in 2yr at 4% interest. How much interest would be earned in 3yr at a rate of 5%? Answer by jorel555(1290) (Show Source):
You can put this solution on YOUR website! If the money grew at 4% simple interest after 2 years, then the original amount would be:
x*.08=200
x=200/.08=2500
After 3 years at 5% interest you would have
2500 x .15=$375 interest earned. ☺☺☺☺
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