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Butoxors [25]
4 years ago
14

What annual simple interest rate will increase Johnson Alexander's initial investment of $10,000 to $12,000 in five years? (Hint

: Use the formula I = prt and substitute known values to find I.)
A. 5%
B. 3%
C. 3.5%
D. 4%
Mathematics
1 answer:
d1i1m1o1n [39]4 years ago
8 0
I = prt
2000 = 10,000 * r * 5
2000 = 50,000 * r
divide both sides by 50,000
.04 = r
The rate is 4%
LETTER D

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