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Lisa [10]
2 years ago
12

You want to put $4,000 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:
SVEN [57.7K]2 years ago
8 0

Answer:

5 years

Step-by-step explanation:

use the I = Prt simple interest formula

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Answer:

2.8 years or 33.6 months.

Step-by-step explanation:

I am not sure what your questions is, but I assume it is how long it will take to pay it off?

In a year (15*12,) you would have paid $180 of it.

x = 500/180

Therefore, it will take you approximately 2.8 years to pay off your loan, excluding interest, of course, since you did not provide that rate.

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anyanavicka [17]

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Step-by-step explanation:

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