SOLUTION: The amount of simple interest earned on an investment over a fixed amount of time is jointly proportional to the principle invested and the interest rate. A principle investment of
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Question 625510: The amount of simple interest earned on an investment over a fixed amount of time is jointly proportional to the principle invested and the interest rate. A principle investment of $4800.00 with an interest rate of 7% earned $336.00 in simple interest. Find the amount of simple interest earned if the principle is $4200.00 and the interest rate is 5%. Answer by rfer(16322) (Show Source):
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