SOLUTION: kevin invest $4000 in a simple interest account for five years. What interest must the account pay to make sure that he has $5500 at the end of five years?
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Question 916243: kevin invest $4000 in a simple interest account for five years. What interest must the account pay to make sure that he has $5500 at the end of five years?
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
I = 1500 = 4000r(5yr)
= r = 7.5%
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