SOLUTION: Im having a hard time figuring the simple interest to this problem.... P= $5000 A=$5900 t=2 years The solution is supposed to be 7.5% I dont understand how that can be?

SOLUTION: Im having a hard time figuring the simple interest to this problem.... P= $5000 A=$5900 t=2 years The solution is supposed to be 7.5% I dont understand how that can be?

Algebra.Com

Question 339676: Im having a hard time figuring the simple interest to this problem....
P= $5000 A=$5900 t=2 years
The solution is supposed to be 7.5%
I dont understand how that can be?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
I=Prt
900=5000*2*r
900/10000=r
r=0.09=9%
I don't know either, I get 9%.
----------------------
I=5000*2*0.075
I=750
I will guess with you.
Bob
RELATED QUESTIONS
Can someone help me on this problem? The simple interest I on a principal of P... (answered by Willie)

Please help.. I am having a hard time. I do not know how to work this out. Please it is... (answered by rfer)

Hello I need some help figuring this out (2v^2-7v-6) + (-4v +1) Im having a hard time... (answered by josgarithmetic)

The principle 'P' is borrowed at simple interest rate 'r' for a period of time 't'. Find... (answered by rfer)

THE SIMPLE INTEREST. I ON A PRINCIPAL OF P DOLLARS AT INTEREST RATE R FOR TIME T, IN... (answered by checkley71)

I am having a hard time figuring this out and I cannot come up with any possible solution (answered by stanbon)

A=P+P*r*t where A is the Amount (total principal plus interest) required to repay the... (answered by Boreal)

Hi, this is a division problem i am having a hard time figuring out. the question is... (answered by Mathtut)

A diagram is needed please i need to understand this .I am having a hard time. 1.)If... (answered by KMST)