you want to put $4000 in a simple interest account. it has a 2.5% annual interest rate. how long will it take you to earn $500 i

Question

Anna007 [38]

2 years ago

10

you want to put $4000 in a simple interest account. it has a 2.5% annual interest rate. how long will it take you to earn $500 i

n interest?

Mathematics

1 answer:

yaroslaw [1] · Answer 1 · 2022-04-05T19:09:28+03:00

yaroslaw [1]2 years ago

7 0

T=I/Pr
t:500/(4000*0.025)
t: 5 yrs
Dear Random17, the question to your answer requires the use of the formula I=Prt. The equation will look like 500=4000(0.025)t. Multiply 4000 times 0.025 to get 500=10t. T=50 years.