Final answer:
It will take 4 years for $5,000 to yield a simple interest of GHC 1000.00 at a rate of 5% per annum.
Step-by-step explanation:
To calculate the time it will take for $5,000 to yield a simple interest of GHC 1000.00 at a rate of 5% per annum, we can use the formula:
Simple Interest = Principal x Rate x Time
Plugging in the given values:
1000 = 5000 x 0.05 x Time
Simplifying the equation:
Time = 1000 / (5000 x 0.05)
Time = 1000 / 250
Time = 4
Therefore, it will take 4 years for $5,000 to yield a simple interest of GHC 1000.00 at a rate of 5% per annum.