Question

You want to put 2500 in a simple interest account it has a 4 % annual interest rate how long will it take you to earn $200 in interest

Answer 1

Answer:

2 years

Step-by-step explanation:

Let Principal = 2500

Let Rate = 4%

Let time = x

Simple Interest = Principal x time x rate

200 = 2500 x 4/100 x 'x'

200 = 100x

200/100 = x

2 = x

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