A Principal Of $5000 Was Invested In A Savings Account For 4 Years. If The Interest Earned For The Period Was

By Increase Savings | Published: October 4, 2009

A principal of $5000 was invested in a savings account for 4 years. If the interest earned for the period was $400, what was the interest rate?

This entry was posted in Q&A's and tagged $5000, Account, Earned, Interest, Invested, Period, Principal, Savings, Years. Bookmark the permalink. Both comments and trackbacks are currently closed.

2 Comments

mister ed

Posted October 4, 2009 at 4:05 pm | Permalink

almost 2%!!!
Rachel

Posted October 4, 2009 at 6:05 pm | Permalink

5400 = 5000*(1+x)^4
I get x = .01943, so 1.943%

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