SOLUTION: Simple Interest For $1000 to grow to more than $1250 in 2 years, what must the simple interest rate be? This is all I have so far and it doesn't even look right =( I=PRT 1250=1

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Question 180128: Simple Interest
For $1000 to grow to more than $1250 in 2 years, what must the simple interest rate be?
This is all I have so far and it doesn't even look right =(
I=PRT
1250=1200r(2)
Please help!
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
If $1000 grew to $1250, then 1250+-+1000+=+250,
and $250 was earned in interest
I+=+P%2Ar%2At
given:
I+=+250
P+=+1000
t+=+2yr
250+=+1000%2Ar%2A2
r+=+250+%2F+2000
r+=+.125
The rate is 12.5 %