SOLUTION: an investor has $5000 to invest for a period of 1 year. Find the range of per annum simple interest rates required to generate interest between $200 and $275 inclusive

SOLUTION: an investor has $5000 to invest for a period of 1 year. Find the range of per annum simple interest rates required to generate interest between $200 and $275 inclusive

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Question 212307This question is from textbook college algebra
: an investor has $5000 to invest for a period of 1 year. Find the range of per annum simple interest rates required to generate interest between $200 and $275 inclusive This question is from textbook college algebra

Answer by edjones(8007) (Show Source): You can put this solution on YOUR website!
Let x=interest rate.
5000x=200
x=200/5000
x=.04=4%
.
5000x=275
x=275/5000=.055=5.5%
.
Ans. between 4 and 5.5 percent inclusive.
.
Ed
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