SOLUTION: An equation for simple interest can be written as I=prt, where I is the interest, p is the principle, or the original money put into the account, rate is, the interest rate in deci
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Question 634210: An equation for simple interest can be written as I=prt, where I is the interest, p is the principle, or the original money put into the account, rate is, the interest rate in decimal form and t is time. Jamie wants to earn $500 in interest so she’ll have enough to buy a used car. She puts $2000 into an account that earns 2.5% interest. How long will she need to leave her money in the account to earn $500 in interest
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
t=I/pr
t=500/2000*0.025
t=500/50
t=10 yrs
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