Ask Question
25 April, 17:06

A $5000 investment earns $550 annual simple interest in one year. What is the annual interest rate?

+1
Answers (1)
  1. 25 April, 18:36
    0
    I = prt 1) nope: since she earned 1536, that is your interest (I) 1536 = p*0.04*8 1536 = 0.32p 1536/0.32 = 0.32p/0.32 p = $4800 2) 550 = 5000*r*1 550/5000 = 5000r/5000 0.11 = r = 11%
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “A $5000 investment earns $550 annual simple interest in one year. What is the annual interest rate? ...” 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