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22 May, 18:24

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

A:1 Years B:6.25 Years C:10 Years D:25 Years

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  1. 22 May, 19:46
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    The answer is C ten years. 2.5 percent of 2000 is 50 so take 50 and divide it by 500 which equals 10
  2. 22 May, 21:47
    0
    I = PRT ... T = I / PR

    500 / (2000) (.025) = T

    500 / 50 = T

    10 = T ... 10 years
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