A principal of ,000 was invested into a savings account for 5 years. If the interest earned for the period was 0 what was the interest rate? The hint is the formula for simple interest is I= PRT
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Answered by MLGPauly
500=4000(x)(5) 4000(5) = 20000 500 = 20000x 500/20000 = x .025 = x 2.5%