SOLUTION: Use the formula for future value with simple interest to find the missing quantity. Round to the nearest tenth of a percent. A = $5,750, P, = $5,000, r = ?, t = 2 years

SOLUTION: Use the formula for future value with simple interest to find the missing quantity. Round to the nearest tenth of a percent. A = $5,750, P, = $5,000, r = ?, t = 2 years

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Question 527102: Use the formula for future value with simple interest to find the missing quantity. Round to the nearest tenth of a percent.
A = $5,750, P, = $5,000, r = ?, t = 2 years
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
I=Prt
I/Pt=r
(5750-5000)/5000*2=r
750/10000=r
r=0.075=7.5%
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