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August 23, 2014

August 23, 2014

Posted by **confused** on Wednesday, May 30, 2007 at 12:04am.

i know this is 1.5 % or at least I think it is but how do i write it out?

Use the equation I=Prt, where I=interest earned, P=principal amount, r=rate, and t=time.

400=5000*4*r

400=20000r

0.02=r

So, from what is shown here, your answer was incorrect. It is 2%, and you also showed your work. Hope this works :-)

Sorry, the above post was by me, not "Anonymous". LOL

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