SOLUTION: An amount of money invested for 1 year in a savings account will earn $700. That same money, invested in a mini-mall development will earn $2940 interest in a year, because the int
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-> SOLUTION: An amount of money invested for 1 year in a savings account will earn $700. That same money, invested in a mini-mall development will earn $2940 interest in a year, because the int
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Question 839396: An amount of money invested for 1 year in a savings account will earn $700. That same money, invested in a mini-mall development will earn $2940 interest in a year, because the interest paid is 16 percentage points more than that paid by the savings account. Find the rate of interest paid by each investment. Answer by richwmiller(17219) (Show Source):
