The simple interest received from an investment is directly proportional to the amount of the investment. By investing $3000 in a municipal bond, you obtain interest of $210 at the end of 1 year. Find a mathematical model that gives the interest I at the end of 1 year in terms of the amount invested P.

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
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The simple interest received from an investment is directly proportional to the amount of the investment. By investing $3000 in a municipal bond, you obtain interest of $210 at the end of 1 year. Find a mathematical model that gives the interest I at the end of 1 year in terms of the amount invested P.

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