SOLUTION: Please help clarify at how you arrive at the answer to this question: at what rate of simple interest will 1000 accumulate to 1420 in 2.5 years

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Question 700102: Please help clarify at how you arrive at the answer to this question:
at what rate of simple interest will 1000 accumulate to 1420 in 2.5 years
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
I=Prt
420=1000r2.5
420=2500r
420/2500=r
0.168=16.8%