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

Question

Finley Spears

25 September, 09:29

+5

Answers (2)

Know the Answer?

Cheyenne Hicks · Answer 1

I = PRT ... T = I / PR

500 / (2000) (.025) = T

500 / 50 = T

10 = T ... 10 years

Torres · Answer 2

The answer is C ten years. 2.5 percent of 2000 is 50 so take 50 and divide it by 500 which equals 10

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