document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=61555>Question 61555</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 #42365 by </B><A HREF=/tutors/aboutme.mpl?userid=tutorcecilia><B>tutorcecilia(2152)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=tutorcecilia><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=tutorcecilia><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=42365\">put this solution on YOUR website!</A><BR><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? <BR>\n" );
document.write( "I=Prt [use the formula for simple interest]<BR>\n" );
document.write( "$400=($5000)(r)(4) [plug-in the values and solve for r<BR>\n" );
document.write( "400=20,000r<BR>\n" );
document.write( "400/20,000=4<BR>\n" );
document.write( ".02=r<BR>\n" );
document.write( "(.02)(100%)=2% interest<BR>\n" );
document.write( ".<BR>\n" );
document.write( "[check by plugging in all of the values back into the original equation]<BR>\n" );
document.write( "400=(5000)(.02)(4)<BR>\n" );
document.write( "400=400 [checks out] </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );