At what rate would you earn $150 in interest on $5,000 for one year?

Answer 1

Rate of interest should be #3%#

Let #R# be the rate , #I# be the interest, #P# be the principal , #T# be the time in year. Here #I=150; P=5000 ; T=1 ; R=?#

We know #I=(P*R*T)/100 or R=(I*100)/(P*T) ; R= (150*100)/(5000*1)=3%#[Ans]

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Answer 2

Eva Adamson

To calculate the interest rate, use the formula:

Interest = Principal × Rate × Time

Rearranging the formula to solve for the rate:

Rate = Interest / (Principal × Time)

Substitute the given values:

Rate = $150 / ($ 5,000 × 1 year)

Rate = $150 /$ 5,000

Rate = 0.03 or 3%

Therefore, the interest rate would be 3%.

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Answer from HIX Tutor

When evaluating a one-sided limit, you need to be careful when a quantity is approaching zero since its sign is different depending on which way it is approaching zero from. Let us look at some examples.