Question

you put $500 in your bank account. With a interest rate of 5%, how long will it take the account to reach $600?

Answer 1

Answer:

4 years hope this helps

Step-by-step explanation:

Answer 2

Answer:

4 Years

Step-by-step explanation:

t = I/Pr

Note the 600 is the total amount in the account.

Therefore Interest, I = 600 - 500 = 100.

t = 100 / (500 * 5%)

t =  100 / (500 *0.05)

t = 4

It will take 4 years.