SOLUTION: If a R2500 investment grows to R2875 in 15months, what simple interest rate was earned?
Algebra.Com
Question 1072795: If a R2500 investment grows to R2875 in 15months, what simple interest rate was earned?
Answer by jorel1380(3719) (Show Source): You can put this solution on YOUR website!
2875/2500=1.15
.15/(15/12)=.15 x 12/15=.12 or 12% simple interest on the investment. ☺☺☺☺
RELATED QUESTIONS
An investment of $18000 earned $10800 interest in 5 years.
What was the simple interest (answered by ikleyn)
If $23,500 earned simple interest of $1,057.50 in 9 months, what was the simple interest... (answered by stanbon)
Arnold invest $250 four years ago. Investment is now worth $320 due to a simple interest... (answered by Theo)
If $9,700 grows to $10,250 in 2 years, then find the simple interest rate earned. Round... (answered by Theo)
The amount of simple interest earned on an investment over a fixed amount of time is... (answered by rfer)
"If an investment of $2000 grows to $2814.20 in seven years with interest compounded... (answered by Boreal,MathTherapy)
A $3000 investment earns simple interest at 8% for 48 months. What is the difference in... (answered by josmiceli)
if an investment of $14,000 grows to $15,300 in 21 years, what is the interest rate... (answered by stanbon)
A $6000 investment at an annual simple interest rate of 3.3% earned as much interest... (answered by checkley79)