Determine the Constant of Variation for the Stated Condition

question 31

Multiple Choice

Determine the constant of variation for the stated condition.
-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 $2000.00 with an interest rate of 1% earned $100.00 in simple interest. Find the amount of simple interest earned if the principle is $3500.00 and the interest rate is 8%.

• A) $1400.00
• B) $140,000.00
• C) $175.00
• D) $800.00

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