SOLUTION: you deposited $5000 in an account and after 5 years it was worth $7000. what interest rate did you earn?
Algebra.Com
Question 929072: you deposited $5000 in an account and after 5 years it was worth $7000. what interest rate did you earn?
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
IF simple Interest
2000 = 5000(r)(5yrs
= r = 8% Interest
RELATED QUESTIONS
a sum of $5000 deposited in an account grows to $7000 in 5 years. assuming annual... (answered by mananth)
The formula P(1+r) n to the power gives the balance of a bank account in which P dollars... (answered by ankor@dixie-net.com)
Recall that a formula bank account earning compound interest is
A=P(1+r/m)^mt - given
(answered by solver91311)
calculate the amount of money you will have after 5 years in an account that you... (answered by ikleyn)
You deposited $5000 in a savings account that has a rate of 11÷ The interest is... (answered by stanbon)
Suppose you have $5300 deposited in an account with interest compounded weekly. After 5... (answered by ikleyn)
Suppose you have $3500 deposited in an account with interest compounded weekly. After 5... (answered by ikleyn)
Suppose you have $5300 deposited in an account with interest compounded weekly. After 5... (answered by ikleyn)
Can you help me solve this difficult complicated problem?
Suppose you deposited $625... (answered by stanbon)