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.