Register

How long does it take an account with a principal of $400 to earn $48 in interest at a simple annual interest rate of 2%?

How long does it take an account with a principal of $400 to earn $48 in interest at a simple annual interest rate of 2%?
asked 165k views
2 votes
How long does it take an account with a principal of $400 to earn $48 in interest at a simple annual interest rate of 2%?

asked
User IHS
by
7.7k points

1 Answer

8 votes

Answer:

it'll take 6 years

Explanation:

I =put

48= 400(.02) t

48= 8t

t= 6 years

answered
User Peter Theill
by
8.6k points
← Prev Question Next Question →

No related questions found

Ask a Question
Welcome to Qamnty — a place to ask, share, and grow together. Join our community and get real answers from real people.

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
Link Copied!