document.write( "Question 474033: If a $55,000 original investment earns simple interest for 3 years, and is worth $65,000, what is the interest rate?
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Algebra.Com's Answer #325112 by ewatrrr(24785) $\"\"$ $\"About$

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document.write( "Hi,
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document.write( "$55,000 original investment earns 'simple interest' for 3 years..
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document.write( "earns ($65,000-$55,000) = $10,000 in interest.
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document.write( "'simple interest'
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document.write( "I = P*r*t
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document.write( "10,000 = 55,000*r*3
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document.write( " 10/3*55 = r
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document.write( "    .0606 = r  Interest rate is 6.06% \n" );
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