Question

Katie earned $1890 in 7 years on an investment at a 6% annual simple interest rate.

How much was Katie's investment?
$793.80
$945
$4500
$9000

Answer 1

793.80
1890x6%=113.4
113.4x7=793.80

Answer 2

Her investment was $4500. To get this, you take 1890 and divide it by 7, giving you 270. This is 6% of 4500. To prove this, you would multiply 4500 by .06, giving the answer of 270, which can then be multiplied by 7 (years) to equal $1890.