The amount of simple interest accrued on a sum of money varies jointly with the amount of money, the interest rate, and the time the money is invested. A sum of money is invested at a simple interest rate of 4% for 3 years and accrues $168 in interest. The same sum of money is invested in a second account at a simple interest rate of 6% for 4 years. Which statement is true?
Answer
A
The amount of interest accrued on the second account is less than double the amount of interest accrued on the first account.
B
The amount of interest accrued on the second account is double the amount of interest accrued on the first account.
C
The amount of interest accrued on the second account is more than double but less than triple the interest accrued on the first account.
D
The amount of interest accrued on the second account is more than triple the interest accrued on the first account.