Homework Help: Algebra

Posted by Anonymous on Friday, June 29, 2012 at 11:20pm.

Another bank offers a different savings rate. If an account with $400 earns interest of $6, how much interest is earned by an account with $1800?

Algebra - Reiny, Saturday, June 30, 2012 at 8:30am
Just use a simple ratio equation

x/6 = 1800/400
x = 27

or

rate for the account = 6/400 = .015

so for the $1800 , interest = .015(1800) = 27

Answer this Question

Related Questions

Social Studies - I was wondering if I could check my answers with someone. I'...
Algebra Grade 7 - If a bank offers a savings account that pays simple interest ...
Finance - You receive $12,000 and looking for a bank to deposit the funds. Bank ...
Finance - You receive $12,000 and looking for a bank to deposit the funds. Bank ...
math - You receive $12,000 and looking for a bank to deposit the funds. Bank A ...
math - You receive $12,000 and looking for a bank to deposit the funds. Bank A ...
6 grade algebra - cindy earns 6% simple interest each year on her savings ...
Math - Sue has $400 in her savings account. If the bank pays her 6 1/2% interest...
math - you deposit $ 900 in a savings account that earns 4%interest coumpounded ...
math - I have been staring at this problem forever, and cant seem to dig it up ...

For Further Reading

First Name:
School Subject:
Answer: