document.write( "Question 63457: 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? \n" ); document.write( "
Algebra.Com's Answer #44155 by checkley71(8403)![]() ![]() ![]() You can put this solution on YOUR website! I=PRT \n" ); document.write( "400=5000*R*4 \n" ); document.write( "400=20000R \n" ); document.write( "R=400/20000 \n" ); document.write( "R=.02 OR 2% INTEREST RATE. \n" ); document.write( "PROOF \n" ); document.write( "400=5000*.02*4 \n" ); document.write( "400=400 \n" ); document.write( " |