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Alex777 [14]
3 years ago
13

You want to put $2,000 in a simple interest account. It has a 2.5% annual interest rate. How long will it take you to earn $500

in interest?
Mathematics
1 answer:
Vika [28.1K]3 years ago
3 0
Fin 2.5% and find how many times to multipy to get 500
2.5% of 2000
percent means parts out of 100
2.5%=2.5/100=0.025
'of' means multiply
2.5% of 2000=
0.025 times 2000=
50
50 in1 year

50 times how many years==500
divide both sides by 50
how many years=10

answer is 10 years
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