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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?
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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?

User Tsemer
by
3.1k points

2 Answers

3 votes

Answer:

It will take 2 months let me know if I'm wrong

Explanation:

User JiminP
by
3.0k points
3 votes

Answer:

Because this is simple interest, the money will earn the same amount of money each year: 4% of $2500.

0.04×2500=100

4% of 2500 is 100, so...

$200÷$100 Per Year= 2Years

User TecHunter
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