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 629616: 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 solver91311(24713) (Show Source): You can put this solution on YOUR website!
She has to make $500 per year on a $10,000 principal. Divide 500 by 10000, then express the decimal fraction as a percentage.
John
My calculator said it, I believe it, that settles it
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