Question

You want to put $2,500 in a simple interest account. It has a 4% annual interest rate. How long will it take you to earn $200 in interest?

Answer 1

2 Years.

Explanation:

I put this and got it right. That's it.

Answer 2

The formula is
I=prt
I interest earned 200
P principle 2500
R interest rate 0.04
T time ?
We need to solve for t
T=I÷pr
T=200÷(2,500×0.04)
T=2years

Hope it helps