Question

$400 interest is earned on a principal of $2,000 at a simple interest rate of 59

Answer 1

Answer:

6.779 years if the interest rate is in dollars.

Step-by-step explanation:

If its 59 percent, it would be well less than a year.

However, if not, divide 400 by 59.

If so, multiply 2000 by .59 to get the per year interest,

then, divide 400 by 1180 to get the answer of 0.33898