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What is the interest rate on a savings account of $10,000 that earns $2,000 after 4 years?

What is the interest rate on a savings account of $10,000 that earns $2,000 after 4 years?
asked 153k views
3 votes
What is the interest rate on a savings account of $10,000 that earns $2,000 after 4 years?

asked
User Jona
by
8.5k points

1 Answer

6 votes

Answer:

5%

Explanation:

2000/4=500 per year in interest

500/10000=.05 or 5%

answered
User LamdaComplex
by
8.6k points
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