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What annual simple interest does a 10,000 dollar investment earn if it accumulates to 11,200 dollar after three years?

$$4 \%$$

Algebra

Chapter 0

Reviewing the Basics

Section 1

Solving Linear Equations

Equations and Inequalities

Oregon State University

McMaster University

Harvey Mudd College

University of Michigan - Ann Arbor

Lectures

00:56

If $\$ 25,000$ is invested…

01:05

Investments What annual ra…

01:14

If $\$ 10,000$ is invested…

01:18

What annual rate of intere…

01:01

Calculate the simple inter…

01:48

What interest rate compoun…

00:59

How much simple interest i…

right. So we have to follow a simple interest rate problem in what you were gonna tryto find. What is the interest rate when we have a $10,000 investment that accumulates to $11,200 after three years? And we want to figure out what is the interest rate? So this is a linear equation problem, because our variable art is raised to the power of one and we're going to keep in mind the fact that addition and subtraction will under each other, and multiplication and division will under each other. So where do we begin mode, which is gonna plug in whatever we can. So we know that 8 11,200 and our principle is 10,000. Then we have one plus our which we don't know. Yeah, what we do know he is three years. So our times three All right, so now we're going to divide both sides by 10,000 and now 11,200 divided by 10,000, is 1.12, and this is going to be able to one plus three times hard, unorganized attract both sides of the equation by one in order to isolate three art. Now we're gonna have 1.12 when this one is just 10.12 is equal to one minus 10 And we are three times song program. Divide both sides. Great. Three. So that we could isolated are. So now we're gonna take 0.12, divided by three. And we're gonna end up with 0.4 are because three the by the way, three is one. So we left, which is our So our simple interest rate is going to be 4%. Yeah.

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