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11-12-2021
Mathematics

contestada

5 What rate of interest is paid on a deposit of $2000 which earns $400
interest in 5 years?

Respuesta :

Lebright Lebright

11-12-2021

Answer:

4%

Step-by-step explanation:

Given

I = 400
P = 2000
R = ?
T = 5 years

Formula

I = PRT

Solving.

I = PRT
400 = 2,000 × R × 5
400 = 10,000 × R
400 / 10,000 = R
0.04 = R

Change 0.04 to percent

0.04 × 100 = 4%

Answer:

4%

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