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You want to put $2,500 in a simple interest account. It has a 4% annual interest rate. How long must you invest that money to earn $500 in interest?

You want to put $2,500 in a simple interest account. It has a 4% annual interest rate. How long must you invest that money to earn $500 in interest?
asked 68.7k views
4 votes
You want to put $2,500 in a simple interest account. It has a 4% annual interest rate. How long must you invest that money to earn $500 in interest?

asked
User Dzmitry Sevkovich
by
8.0k points

2 Answers

5 votes

Answer:5 years

Explanation:

answered
User Maccartm
by
8.2k points
4 votes
It will take 5 years of investment

answered
User Mike Donkers
by
7.8k points
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