SOLUTION: What annual rate of interest would you have to earn on an investment of $4000 to ensure receiving $292.00 interest after 1 year?

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Question 1047502: What annual rate of interest would you have to earn on an investment of $4000 to ensure receiving $292.00 interest after 1 year?
Found 2 solutions by Boreal, stanbon:
Answer by Boreal(15235) About Me  (Show Source):
You can put this solution on YOUR website!
I=prt
292=4000*r*1
r=292/4000=0.073 or 7.3% simple interest.

Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
What annual rate of interest would you have to earn on an investment of $4000 to ensure receiving $292.00 interest after 1 year?
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I = P*r*t
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292 = 4000*r*1
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r = 292/4000
r = 7.3%
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Cheers,
Stan H.
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