156k views
3 votes
Simon Earned $1,000 after depositing $2,000 in his simple interest account for 10 years. What is his interest rate?

1 Answer

5 votes

Answer:

$5,000

50%

Explanation:

$1,000×100=10,000

10,000÷2,000= 500

500×10= 5,000

User Krystian
by
8.5k points

No related questions found

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories