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amm1812
3 years ago
15

You want to put $8,000 in a simple interest account. It has a 2% annual interest rate. How long must you invest that money to ea

rn $400 in interest?
Mathematics
1 answer:
balandron [24]3 years ago
6 0
Dear Sadaadams73, to solve this problem, we use the formula I=Prt. The equation will look like 400=8000 x 0.02 x <em>t. </em>Multiply 8000 by 0.2 to get 1600t=400. Then divide both sides by 400 to get 4 years.
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