What simple interest rate will Susan need to secure to make $2,500 in interest on a $10,000 principal over 5 years? how would i figure this out?

Answer 1

I = PRT

2,500 = 10,000 * R * 5

2,500 = 50,000 * R

2,500 / 50,000 = R

0.05 = R

The rate is 5%