i dont need the answer just help on setting up the equation so i can SEE the picture. i appreciate any help. thanks!
an investment of $1500 paid interest of $45 during a certain period. how much interest would an investment of $2000 invested at the same rate for the same length of time pay?
2007-01-12 09:00:59 · 5 answers · asked by smoovstella319 2 in Education & Reference ➔ Homework Help
Part over whole equals percent over 100.
Part Percent
Whole 100
Cross multiply, and figure out the two sides (you'll have 100*Part=Percent*Whole.)
So, when you get that equation figured out, multiply $2000 times the percent you got for the first equation. Since it isn't compound interest, you're just looking at simple interest, which is a percentage. Compound interest is more complex, but don't be fooled by the question. Same rate, same length of time...those variables don't change. You just need the percentage and then multiply by $2000.
2007-01-12 09:08:01 · answer #1 · answered by SlowClap 6 · 0⤊ 0⤋
Interest = principal * rate * time
45 = 1500 * R * T
(Actually the short way is to say 45/1500 = X/2000, since you are dealing with the same rate and time. Thus you would get 60.)
2007-01-12 17:09:38 · answer #2 · answered by Anonymous · 0⤊ 0⤋
1500/45 = 2000/x
solve for x
2007-01-12 17:05:47 · answer #3 · answered by delujuis 5 · 0⤊ 0⤋
45/1500=.03 (percent interest paid)
2000 x .03 = your answer
2007-01-12 17:07:44 · answer #4 · answered by Irish Eyes 4 · 0⤊ 0⤋
1500/45 = 2000/x
Cross-multiply to get: 1500x = 90000
Divide each side by 100 to get 15x = 900
Divide each side by 15 to get answer.
2007-01-12 18:37:57 · answer #5 · answered by Anonymous · 0⤊ 0⤋