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You want to put $4,000 in a simple interest account. It has a 2.5% annual interest rate. How long will it take you to earn $500 in interest?

You want to put $4,000 in a simple interest account. It has a 2.5% annual interest rate. How long will it take you to earn $500 in interest?
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13 votes
You want to put $4,000 in a simple interest account. It has a 2.5% annual interest rate. How long will it take you to earn $500 in interest?

User Jonathan Cross
by
8.3k points

2 Answers

12 votes

Answer:

5 years

Explanation:

Good luck!!

User PRAJIN PRAKASH
by
8.4k points
9 votes

Answer:

5 years

Explanation:

use the I = Prt simple interest formula

You want to put $4,000 in a simple interest account. It has a 2.5% annual interest-example-1
User Dnaranjo
by
8.9k points
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