Asked by maddie

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?
Answered by Ms. Sue
I = PRT

500 = 4,000 * 0.025 * T

500 = 100T

500/100 = T

5 = T

There are no AI answers yet. The ability to request AI answers is coming soon!