Ask Question
15 September, 00:50

An investment of $4000 earns $1700 simple interest after 5 years. what is the annual simple interest rate in the investment?

+2
Answers (1)
  1. 15 September, 04:25
    0
    8.5% interest rate

    Step-by-step explanation:

    Principle: $4000

    Interest rate: x

    Time : 5 years

    4000 (5) (x) = Interest

    4000x = 1700/5

    4000x = 340

    x = 0.085 or 8.5% interest rate

    Check:

    8.5% x 4000 x 5

    = 340 x 5

    = 1700
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “An investment of $4000 earns $1700 simple interest after 5 years. what is the annual simple interest rate in the investment? ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers