*WILL GIVE 15 POINTS PLEASE HELP* You want to put 2500 in a simple interest account. It has 4% annual interest rate. How long mu
st you invest that money to earn $500 in interest?
A. 1.25 years
B. 2.5 years
C. 5 years
D. 20 years
2 answers:
it is C because 4% of 2500 is 100 and so it will take 5 years to make $500.
I hope that helps
just fyi, if you spend x points on question, each user gets x/2 points (rounded up or down, I don't remember)
simple interest formula is
I=PRT
I=interest
P=principal
R=rate in decimal
T=time in years
assuming you mean that the principal is $2500 and not 2500 cents or 2500 of some other currency
interest=500
R=4%=0.04
I=PRT
500=(2500)(0.04)(T)
500=100T
divide both sides by 100
5=T
answer is 5 years
C is answer
You might be interested in
Answer:
.2
Step-by-step explanation:
Answer:
Step-by-step explanation:
Answer:
v= 141.37
Step-by-step explanation:
π · 3^2 · 15/ 3
=141.37167
Answer:
This makes no sence at all likee
Step-by-step explanation:
Answer:
C. Marie should make sure she surveys both the fathers and mothers.