SOLUTION: If an investment of 8000 earns 1280 in simple interest in 4 years, what is the rate of interest being earned?
I have been able to find the answer, but I am unable to show my work.
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I have been able to find the answer, but I am unable to show my work.
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Question 337787: If an investment of 8000 earns 1280 in simple interest in 4 years, what is the rate of interest being earned?
I have been able to find the answer, but I am unable to show my work. I cannot figure out the proper equation formula.
Thank you Answer by Fombitz(32388) (Show Source):
You can put this solution on YOUR website! Simple interest only uses the principal to get interest.
So the total interest divided by 4 is the interest for each year.
