SOLUTION: Please help....
WORD PROBLEMS:Business and finance
Kevin earned $165 interest for 1 year on an investment of $1500. At the same rate, what amount of interest would be earned
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WORD PROBLEMS:Business and finance
Kevin earned $165 interest for 1 year on an investment of $1500. At the same rate, what amount of interest would be earned
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Question 46565: Please help....
WORD PROBLEMS:Business and finance
Kevin earned $165 interest for 1 year on an investment of $1500. At the same rate, what amount of interest would be earned by an investment of $2500? Answer by checkley71(8403) (Show Source):
You can put this solution on YOUR website! I=P*R*T OR 165=1500*R*1 OR 1500R=165 OR R=165/1500 OR R=.11 OR AN INTEREST RATE OF 11% THUS I=2500*.11*1 OR I=275 FOR ONE YEAR.
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