Question

If the simple interest on $4,000 for 7 years is $1,400

Answer 1

Explanation:

Simple interest is

I=Prt where P= principle, r=rate, t=time

r=I/(Pt)

r=1400/(4000(7))

r=0.05

r=5%

Answer 2

Answer: $5400

im assuming you want the total cost?

4000+1400=5400