Solve. -The Amount of Simple Interest Earned on an Investment Over

question 235

Multiple Choice

Solve.
-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 $1,200.00 with an interest rate of 1% earned
$60) 00 in simple interest. Find the amount of simple interest earned if the principle is $1,400.00 and the interest
Rate is 5%.

• A) $70.00
• B) $35,000.00
• C) $350.00
• D) $300.00

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Definitions:

Net Profits

The amount of income that remains after all operating expenses, taxes, and costs are subtracted from total revenue.

Typical Day

A representation of an average or standard day in a specific context, such as a work environment or routine lifestyle.

Best Case Scenario

The most favorable or desirable outcome possible in a situation, often used in planning or forecasting.

Storeowner

is an individual who owns and possibly operates a retail establishment, responsible for the management, decision making, and financial outcomes of the store.