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Mathematics 27 Online
OpenStudy (anonymous):

The interest on an investment varies directly as the rate of interest. If the interest is $46 when the interest rate is 5%, find the interest, in dollars, when the rate is 7.4%. Round to the nearest cent.

hero (hero):

Hint: y = cx, where c is the constant of variation

hero (hero):

46 = c(.05) 46/.05 = c

hero (hero):

c = 920 y = 920(.074) y =68.08 Therefore, when the rate is 7.4%, the interest is $68.08

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