The amount of simple interest owed on a loan varies jointly as the amount of principal borrowed and the amount of time the money is borrowed. If $4000 in principal results in $480 in interest in 2 yr, determine how much interest will be owed on $6000 in 4 yr.
The amount of simple interest owed on a loan varies jointly as the amount of principal borrowed and the amount of time the money is borrowed. If $4000 in principal results in $480 in interest in 2 yr, determine how much interest will be owed on $6000 in 4 yr.
Algebra for College Students
10th Edition
ISBN:9781285195780
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter8: Functions
Section8.7: Direct And Inverse Variation
Problem 36PS
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