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You want to put $4,000 in a simple interest account. It has a 2.5% annual interest rate. How long will it take you to earn $500 in interest? 2 years 5 years 50 years 3.125

You want to put $4,000 in a simple interest account. It has a 2.5% annual interest rate. How long will it take you to earn $500 in interest? 2 years 5 years 50 years 3.125
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24 votes
You want to put $4,000 in a simple interest account. It has a 2.5% annual interest rate. How long will it take you to earn $500 in interest?

2 years
5 years
50 years
3.125

asked
User Mathew Thompson
by
7.7k points

1 Answer

8 votes
5 years to earn $500
answered
User Shnatsel
by
8.3k points
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