Ou put $5,000 in a simple interest account at a bank. you will earn $1,200 in just 4 years. what is the annual interest rate for the account

asked Jan 6, 2018 62.5k views

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5 votes

Use the formula I=Prt
1200=5000*4r
1200/20000=r = 0.06 or 6% interest
Have a nice day :D

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