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The Simple Interest Earned by a Certain Amount of Money

question 148

Short Answer

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 14% for 2 years, $84 is earned. How much is earned if the money is invested at 15% for 4 years? $__________

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Definitions:

Socialization

The lifelong process through which individuals acquire norms, values, and behaviors appropriate for active participation in their society.

Cultural Experiences

Cultural experiences encompass exposure to and engagement with the customs, arts, social institutions, and achievements of a particular nation, people, or other social group.

Socialization Process

The method through which individuals learn and internalize the values, beliefs, and norms of their culture, thereby becoming functioning members of society.

Cultures

The shared values, traditions, norms, customs, arts, history, and collective identity developed by groups of people.

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