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You want to put $2500 in a simple interest account. it has 4% Annual interest rate how long will it take you to earn $200 in interest?

You want to put $2500 in a simple interest account. it has 4% Annual interest rate how long will it take you to earn $200 in interest?
83.8k views
4 votes
You want to put $2500 in a simple interest account. it has 4% Annual interest rate how long will it take you to earn $200 in interest?

User P K
by
8.2k points

2 Answers

4 votes

Answer:

2 years

4% of 2500 is 100

So 100x2 years would be 200

User Ali Mezal
by
8.2k points
3 votes

Answer:

Explanation:

SI = PRT/100

$200 = 2500 * 4*T/100

200 *100 / 2500 *4 = T

T = 200 * 100 /2500*4 = 2

T = 2 years

User Splintor
by
8.5k points
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