SOLUTION: What simple interest rate will Susan need to secure to make $2,500 in interest on a $10,000 principal over 5 years?

SOLUTION: What simple interest rate will Susan need to secure to make $2,500 in interest on a $10,000 principal over 5 years?

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Question 63311: What simple interest rate will Susan need to secure to make $2,500 in interest on a $10,000 principal over 5 years?
Answer by 303795(602) (Show Source): You can put this solution on YOUR website!
i = Prt
2500 = 10000 x r x 5
2500=50000 x r
r=2500/50000
=0.05
The rate is 5% per annum.
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