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How much time will a $500 investment need to earn $100 in interest at a rate of 10% per year?

How much time will a $500 investment need to earn $100 in interest at a rate of 10% per year?
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How much time will a $500 investment need to earn $100 in interest at a rate of 10% per year?

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User MrVoodoo
by
7.9k points

1 Answer

1 vote
I = prt
t = I/pr
r = 10% = 10/100 = 0.1

t = 100/(500 x 0.1) = 100/50 = 2
t = 2 years.
answered
User Aca
by
8.3k points
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