SOLUTION: After 6 months, the simple interest earned on an investment of $5,000 was $100. Find the annual interest rate.

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Question 946240: After 6 months, the simple interest earned on an investment of $5,000 was $100. Find the annual interest rate.
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
I=Prt
100=5000*r*0.5
100/2500=r
r=0.04=4%