SOLUTION: Kevin earned $165 interest for 1 year on an investment of $1500. At same rate, what amount of interst would be earned by investment of $2500? Here is what I came up with. Please he

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Kevin earned $165 interest for 1 year on an investment of $1500. At same rate, what amount of interst would be earned by investment of $2500? Here is what I came up with. Please he      Log On

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Question 68694: Kevin earned $165 interest for 1 year on an investment of $1500. At same rate, what amount of interst would be earned by investment of $2500? Here is what I came up with. Please help me. Thank you in advance.
$2500 x 12= $300 interest
Answer by checkley71(8403) About Me  (Show Source):
You can put this solution on YOUR website!
165/1500=.11=11% INTEREST.
@ 11% INTEREST AN INVESTMENT OF 2500 WOULD YIELD
.11*2500=$275 INTEREST FOR A $2500 INVESTMENT @ 11% INTEREST.