Thursday

September 18, 2014

September 18, 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

**Answer this Question**

**Related Questions**

math - A principal of $5000 was invested in a savings account for 4 years. If ...

math - 1.A principal of $5000 was invested in a savings account for 4 years. If ...

math - Show work for. A principal of $5000.00 was invested in a saving account 4...

Algebra - Another bank offers a different savings rate. If an account with $400 ...

Math - Your Aunt will give your $1,ooo if you invest it for 10 years in an ...

algebra - Abbi invested $1,200 in a certificate of deposit with a simple ...

math - Calculate the interest earned on a savings account with $900.00 that is ...

Algebra Grade 7 - If a bank offers a savings account that pays simple interest ...

MINE Math - 16. Calculate the interest earned on a savings account with $800.00 ...

math models - If $3800 is invested in a savings account for which interest is ...