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BIG IDEAS MATH #14 i MODELING REAL LIFE You deposit $2000 in an account that earns simple interest at an annual rate of 4%. How long must you leave the money in the account to e…

BIG IDEAS MATH #14 i MODELING REAL LIFE You deposit $2000 in an account that earns simple interest at an annual rate of 4%. How long must you leave the money in the account to e…
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BIG IDEAS MATH

#14 i
MODELING REAL LIFE You deposit $2000 in an account that earns simple interest at an annual rate of 4%. How long must
you leave the money in the account to earn $500 in interest?


(answer is in years)

asked
User MFP
by
8.3k points

1 Answer

4 votes

Answer:

6.25years

Explanation:

2000*4% = 80

500/80 = 6.25

6 years and 3 months

answered
User Jaap Oudejans
by
8.4k points
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