Question 814586
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Hi,

$16000 is invested for 5 years at 8% compounded annually.  
In General {{{A = P(1+r/n)^(nt)}}}
A = Accumulated Amount
P= principal = 16000
r= annual rate = .08
n= periods per year = 1  (annually)
t= years =  5
{{{A = 16000(1.08)^(5)}}} = $23,509.25  0r  I = $7509.25
find the simple interest rate that should deliver 
the same overall interest at the end of the 5 years. 
 I = Prt 0r  r = I/Pt =  $7509.25/5*16,000 = r