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Suppoe you have $5000 to invet, and you want to earn $1000 imple interet in 5 year. What i the lowet interet rate that will allow you to do thi?
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Suppoe you have $5000 to invet, and you want to earn $1000 imple interet in 5 year. What i the lowet interet rate that will allow you to do thi?

User James Billingham
by
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1 Answer

2 votes

Answer:

4%

Explanation:


I=Prt \\ \\ 1000=5000(r)(5) \\ \\ 1000=25000r \\ \\ r=0.04=4\%

User Arthur Corenzan
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