Question

the interest on an investment varies directly as the rate of of interest. if interest is $47 when interst rate is 5% find the interest when interest rate is 5.2%

Answer 1

The interest when rate is 5.2% is $48.88

Explanation:

if interest (I) varies directly as interest rate (R)

Then

I ∝ R

I=cR

c= constant

if interest is $47 when interest rate is 5%

47 =.05c

c = 940

if interest rate is 5.2% then

I = 940 x .052

=48.88

=$48.88