Lori wants to deposit $2,500 in a simple interest account. It has a 4% annual interest rate. How long will it take for Lori to earn $200 in interest?.

Question

asked Nov 3, 2022 32.0k views

2 Answers

Rodrigo Fonseca · Answer 1 · 2022-11-08T13:33:21+0000

Answer:

2 years

Explanation:

First, we'll work out what the annual interest is.

2500*0.04=100 (USD).

So it will take
(200/100)=2 years for Lori to earn $200 in interest.