SOLUTION: What simple interest rate will Susan need to secure to make $2,500 in interest on a $10,000 principle over 5 years?
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Question 252507
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What simple interest rate will Susan need to secure to make $2,500 in interest on a $10,000 principle over 5 years?
Answer by
rfer(16322)
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i=prt
2500=10000r5
2500=50000r
2500/50000=r
r=.05=5%