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

question 35

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 $4000.00 with An interest rate of 3% earned $240.00 in simple interest. Find the amount of simple interest earned if The principle is $2400.00 and the interest rate is 1%.

• A) $48.00
• B) $144.00
• C) $80.00
• D) $4800.00

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Definitions:

Merchandise Exports

Goods produced in one country and sold to buyers in another country, contributing to international trade.

Foreign Securities

Investments such as stocks, bonds, or certificates issued by entities located outside of the investor's country.

Exchange Rate

The price at which one currency can be exchanged for another, influencing international trade and investments.

International Loans

Financial lending provided by one country or international financial institution to another country for development or emergency financing.