1. Basil earned $631.40 in 7 years on an investment at a 5.5% simple interest rate.
How much was Basil's investment?
A. $496
B. $1640
C. $16,400
D. $80,360
2. Jennifer earned $249.60 in 612 years on a $640 investment.
What was the simple interest rate?
A. 3.9%
B. 6%
C. 39%
D. 62.4%
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Home » Mathematics » Use the formula I=prt to solve. 1. Basil earned $631.40 in 7 years on an investment at a 5.5% simple interest rate. How much was Basil's investment? A. $496 B. $1640 C. $16,400 D. $80,360 2. Jennifer earned $249.60 in 612 years on a $640 investment.