3 years ago

Send me help plz I don’t understand

Mathematics

1 answer:

Elina [12.6K]3 years ago

8 0

Simple interest:

i = prt

where i = interest earned

p = principal deposited

r = annual rate

t = number of years

You want the interest to be $500. The rate is 4%, and the principal is $2000.

Enter those values in the formula for simple interest above and solve for t, the time in years.

500 = 2000 * 4% * t

500 = 2000 * 0.04 * t

500 = 80t

t = 6.25

Answer: 6.25 years

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