Calculate the rate of interest paid if an eight year investment of $5000 became $6000 dollars using simple interest
15% I think.
6000 - 5000 ==$1,000 - simple interest earned over 8 years.
1,000 / 8 ==$125 - simple interest earned over 1 year
125 / 5000 ==0.025 x 100 ==2.5% simple interest rate per year.
Thank you.
+27 
