Problema Solution
After earning interest, the balance of an account is $420. The new balance is 7/6 of the original balance. How much interest was earned?
Answer provided by our tutors
Let 'x' represent the original balance.
(7/6)x = 420
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click here to see the equation solved for x
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x = $360
420 - 360 = $60
The interest earned was $60.