SOLUTION: Makana invested $700 in a simple interest account that had an interest rate that was 1% more than that of her friend Marlys. If Marlys earned $39 after one year from an investment
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-> SOLUTION: Makana invested $700 in a simple interest account that had an interest rate that was 1% more than that of her friend Marlys. If Marlys earned $39 after one year from an investment
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Question 627839: Makana invested $700 in a simple interest account that had an interest rate that was 1% more than that of her friend Marlys. If Marlys earned $39 after one year from an investment of $650, how much would Makana earn in 1 year? Answer by reviewermath(1029) (Show Source):
You can put this solution on YOUR website! Marlys investment's interest rate: 39/650 = 6%
Therefore, Makana investment's interest rate = 6% + 1% = 7%
Makana earns 0.07(700) = $49 in 1 year
Answer: $49
