BIG IDEAS MATH #14 i MODELING REAL LIFE You deposit $2000 in an account that earns simple interest at an annual rate of 4%. How long must you leave the money in the account to earn $500 in interest? (answer

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Johnstaveley asked Aug 3, 2023

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BIG IDEAS MATH

#14 i
MODELING REAL LIFE You deposit $2000 in an account that earns simple interest at an annual rate of 4%. How long must
you leave the money in the account to earn $500 in interest?

(answer is in years)

Mathematics
high-school

Johnstaveley asked Aug 3, 2023

by Johnstaveley

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1 Answer

19 votes

Answer:

6.25years

Explanation:

2000*4% = 80

500/80 = 6.25

6 years and 3 months

Saurabh Shukla answered Aug 7, 2023

by Saurabh Shukla

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