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A principal of $5000 be invested in a hoard justification for 4 years. If the interest earn for the term be $400 , what be the interest rate?
Answers:
If the give somebody the third degree is simple interest, next the answer is:
Interest = principal x rate x time
400 = 5000 x 4 years x rate
400 = 20000 x rate
400/20000 = rate
rate = .02 or 2%
You really should do your own homework instead of asking online for someone else to do it for you!
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Answers:
If the give somebody the third degree is simple interest, next the answer is:
Interest = principal x rate x time
400 = 5000 x 4 years x rate
400 = 20000 x rate
400/20000 = rate
rate = .02 or 2%
You really should do your own homework instead of asking online for someone else to do it for you!