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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?.
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40 votes
40 votes
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?.

User Taylor King
by
2.6k points

2 Answers

10 votes
10 votes

Answer:

2 years

Explanation:

TTM </3

User Mzzx
by
3.1k points
25 votes
25 votes

Answer:

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.

User Mrid
by
2.5k points
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