Question

James invested $4,000 at 5% interest per year; how long will it take him to earn $200 in simple interest?

Answer 1

4,000 * 0.05x = 200

Solve for x.

Answer 2

is it subtracting 4ooo - 200 and then diving by .05 to solve for X?

Answer 3

T=I/Pr
T=200/ 4000*5%
T= 200/ 4000*.05
T=200/200
T=1 Year