The Simple Interest Earned by a Certain Amount of Money

question 123

Multiple Choice

The simple interest earned by a certain amount of money varies jointly as the rate of interest and the time (in years) that the money is invested. If the money is invested at 15% for 5 years, $600 is earned. How much is earned if the money is invested at 20% for 7 years?

• A) I = $1134
• B) I = $1117
• C) I = $1126
• D) I = $1113
• E) I = $1120

---

Definitions:

Demand Curve

A graph showing the relationship between the price of a good or service and the quantity of it that consumers are willing to purchase at different prices.

Price Sensitivity

The degree to which the demand for a product is affected by changes in its price.

Vertical

Refers to the integration of multiple stages of production and distribution within the same company.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of that good that buyers are willing to purchase.