document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=39420>Question 39420</A>: <I><SPAN STYLE=\"word-break: break-all;\"> A principal of $5000 was invested in a savings account for 4 years.  If the interest earned for the period was $400, what was the interest rate?    </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #24859 by </B><A HREF=/tutors/aboutme.mpl?userid=fractalier><B>fractalier(6550)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=fractalier><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/cgi-bin/show-face.mpl?user=fractalier><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=24859\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Assuming that the interest was not compounded, we can say that if $400 was earned over 4 years, the interest was $100 each year. Now we have<BR>\n" );
document.write( "I = PRT<BR>\n" );
document.write( "for the formula for simple interest...now plug in and solve for r...<BR>\n" );
document.write( "100 = 5000(r)(1)<BR>\n" );
document.write( "r = .02 = 2% per year </SPAN>\n" );
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