The simple interest on an investment is directly proportional to the amount of the investment. by investing $2400 in a certain bond issue, you obtained an interest payment of $111.75 after 1 year. find a mathematical model that gives the interest i for this bond issue after 1 year in terms of the amount invested p. (round your answer to three decimal places.)
a. i = 0.047pb. i = 268,200pc. i = 21.477pd. i = 2400pe. i = 111.75p

Option A -

Step-by-step explanation:

Given : The simple interest on an investment is directly proportional to the amount of the investment. By investing $2400 in a certain bond issue, you obtained an interest payment of $111.75 after 1 year.

To Find : A mathematical model that gives the interest I for this bond issue after 1 year in terms of the amount invested P ?

Solution :

Using interest formula,

Where, I is the interest I=$111.75

P is the principal P=$2400

T is Time T=1 year

Substitute the value,

A mathematical model that gives the interest I for this bond issue after 1 year in terms of the amount invested P is given by,

Therefore, Option A is correct.