Question

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?

Answer 1

Answer:

5 years

Step-by-step explanation:

p= 4000

interest= 2.5

let time be x

Therefore, 4000*2.5*x/100=500

x=5