Math

For a given interest rate, simple interest varies jointly as the principal and time. If $3000 left in an account for 6 years earned interest of $1260, then how much interest would be earned in 7 years?

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  1. Larry/Kalyn/Makaila -- please use the same name for your posts.

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    Ms. Sue
  2. I = k(P)(T) , compare with I = PRT, so k is jus like the rate R

    given: when P = 3000, T=6, then I = 1260
    1260 = k(3000)(6
    k = 1260/( (3000)(6) ) = .07 , mmhhh, looks like we just found the interest rate

    I = .07(P)(T)
    so for the last part

    I = .07(3000)(7) = 1470

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  3. I sure hope that the above is not how "they" are teaching you to calculate simple interest

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  4. how about (7/6)1260 = 1470

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