Question

How many months does it take to earn $180 in interest on an investment of the principal is $5000 and the interest rate is 2%?

Answer 1

Answer:69

Explanation:

Answer 2

months = 6.67

Explanation:

time in years = interest / (principal amount x rate)

time in y = 180 / (5000 x 0.02)

time in y = 180 / 100

time in months = 12 / 1.8

months = 6.67