SOLUTION: An investment of $1500 paid interest of $45 during a certain period.How much interest would an investment of $2000 invested at the same rate for the same length of time pay? Also h

Algebra ->  Percentage-and-ratio-word-problems -> SOLUTION: An investment of $1500 paid interest of $45 during a certain period.How much interest would an investment of $2000 invested at the same rate for the same length of time pay? Also h      Log On


   

Question 290856: An investment of $1500 paid interest of $45 during a certain period.How much interest would an investment of $2000 invested at the same rate for the same length of time pay? Also how would I check this? please explain. Thanks in advance =)
Answer by checkley77(12844) About Me  (Show Source):
You can put this solution on YOUR website!
SET UP A RATIO OF THE 2 INVESTMENTS & INTERESTS:
45/1,500=X/2,000 CROSS MULTIPLY
1,500X=45*2,000
1,500X=90,000
X=90,000/1,500
X=$60 WOULD BE THE INTEREST ON THE $2,000 INVESTMENT.
PROOF:
45/1,500=60/2,000
90,000=90,000