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

question 154

Multiple Choice

Solve the problem.
-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 $3100.00 with an interest rate of 2% earned
$186.00 in simple interest. Find the amount of simple interest earned if the principle is $2700.00 and the interest
Rate is 7%.

• A) $56,700.00
• B) $651.00
• C) $567.00
• D) $162.00

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