You want to put $4000 in a simple interest account. it has a 2.5% annual interest rate. how long will it take you to earn $500 in interest?

T=I/Pr

t:500 / (4000*0.025)

t: 5 yrs

Dear Random17, the question to your answer requires the use of the formula I=Prt. The equation will look like 500=4000 (0.025) t. Multiply 4000 times 0.025 to get 500=10t. T=50 years.