How long does it take an account with a principal of $400 to earn $48 in interest at a simple annual interest rate of 2%?

asked Jan 1, 2022 35.7k views

21 votes

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3 votes

Answer:

6 years

Step-by-step explanation:

$8 per year $48 ÷ $8 = 6 years

Isaac Moses answered Jan 4, 2022

5.2k points

7 votes

Answer:

6 years

Explanation:

8$ per year $48 divided by $8=6

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