Last month you had $698 in your savings account and received $5.58 in interest. This month you have been able to save a total of $1406. Assuming the rate has stayed the same, how much interest will you earn?
A. $11.24
B. $2.01
C. $14.68
D. $8.32

Question

Last month you had $698 in your savings account and received $5.58 in interest.  This month you have been able to save a total of $1406.  Assuming the rate has stayed the same, how much interest will you earn?
A. $11.24
B. $2.01
C. $14.68
D. $8.32

campbell_st · Answer

I'd use 

$$5.58 \div 698 = answer$$

then multiply the answer by $1406

texaschic101 · Answer

or you can set it up as a proportion..
698/5.58 = 1406/x -- 698 to 5.58 interest = 1406 to x interest
cross multiply
(698)(x) = (5.58)(1406)
698x = 7845.48
x = 7845.48/698
x = 11.239 which rounds to $ 11.24 (A)