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erica [24]
3 years ago
8

Jamar puts $500 in a savings account that earns simple interest. The intrest rate is 5%. How long will it take for jamar to earn

$500 in interest from this account if he makes no other deposit or withdrawal? Please help!!!
Mathematics
2 answers:
belka [17]3 years ago
7 0
5% of 500 is 25


if the interest rate is $25 every month so it will take 20 months to earn $500
500 \div 25 = 20



good luck
prohojiy [21]3 years ago
5 0
Principle=$500
Rate=5%
Interest=500
time=?
now,
T=(I×100)/P×R
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