Santi4572 Santi4572

01-09-2021
Mathematics

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You deposit $2000 in an account that earns simple interest at an annual rate of 4%. How long must you leave the money in the account to earn $500 in interest?

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masojeanthony379 masojeanthony379

02-09-2021

Answer:

6.25YEARS

Step-by-step explanation:

S.I.=P×R×T÷100

T=S.I.×100÷P×R

T=500×100÷2000×4

T=500÷20×4

T=500÷80

T=6.25 YEARS

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