SOLUTION: If you pay $5,000 for a simple interest note that will be worth $6,000 in 18 months, what annual simple interest rate will you earn?

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Question 650934: If you pay $5,000 for a simple interest note that will be worth $6,000 in 18 months, what annual simple interest rate will you earn?
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
i=Prt
1000=5000*r*1.5
1000=7500r
1000/7500=r
r=0.133=13.3%