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:

Workers' Pay

Compensation or salary received by employees for their labor or services provided to an employer.

Corporate Behavior

The actions, reactions, and interactions of a corporation with its stakeholders, governed by its culture, ethics, and governance practices.

Stockholders

Individuals or entities that own one or more shares of stock in a public or private corporation, which represents a share in its ownership.

Market Pressures

The forces exerted by supply and demand within a marketplace that influence business decisions, product pricing, and economic policies.