Question

Lori wants to deposit $2,500 in a simple interest account. It has a 4% annual interest rate. How long will it take for Lori to earn $200 in interest?.

Answer 1

2 years

Explanation:

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Answer 2

2 years

Explanation:

First, we'll work out what the annual interest is.

`2500*0.04=100` (USD).

So it will take
`(200/100)=2` years for Lori to earn $200 in interest.