Yoko invested s4000 in a fund for 2 years and was paid simple interest. The total interest that she received on the investment was $400. As a percentage, what was the annual interest rate of her investment? If necessary, refer to the list of financial formulas. [% ?
Yoko invested s4000 in a fund for 2 years and was paid simple interest. The total interest that she received on the investment was $400. As a percentage, what was the annual interest rate of her investment? If necessary, refer to the list of financial formulas. [% ?
Excel Applications for Accounting Principles
4th Edition
ISBN:9781111581565
Author:Gaylord N. Smith
Publisher:Gaylord N. Smith
Chapter27: Time Value Of Money (compound)
Section: Chapter Questions
Problem 10E
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Transcribed Image Text:Yoko invested s4000 in a fund for 2 years and was paid simple interest. The total
interest that she received on the investment was $400. As a percentage,
00
what was the annual interest rate of her investment?
If necessary, refer to the list of financial formulas.
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