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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Definitions:

Factor Analyzed

A statistical technique employed to discover fundamental factors or elements that clarify the correlation patterns among a group of observable variables.

Content Validity

Refers to the extent to which a test accurately measures or reflects the specific content of what it is supposed to assess.

Representative Sample

A portion of the population that accurately mirrors the entire group's attributes.

Behavior

The actions or reactions of an individual, usually in relation to the environment, which can be observed and measured from an external standpoint.