Solve the problem.The amount of simple interest earned on an investment over a fixed amount of time is jointly proportional to the principle invested and the interest rate. A principle investment of $2000.00 with an interest rate of 1% earned $100.00 in simple interest. Find the amount of simple interest earned if the principle is $3500.00 and the interest rate is 8%.
A. $1400.00
B. $800.00
C. $140,000.00
D. $175.00
Answer: A
Mathematics
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