document.write( "Question 394379: I invest $200 into a savings account that earns 2% simple interest. How long will it take for me to get $50 in interest. \n" ); document.write( "

Algebra.Com's Answer #279812 by solver91311(24713) $\"\"$ $\"About$

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\n" ); document.write( "\n" ); document.write( "Simple interest is nothing more than the interest rate times the original principal each interest paying period. You don't say, so I presume annual. 200 times 2% is 4.00. 4 goes into 50 12.5 times. The thing is, unless they are paying the interest at 6 month intervals (or more frequently) you will never have exactly $50 interest. At the end of the 12th year you will have 48 bucks, and at the end of the 13th year you will have 52.\r
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\n" ); document.write( "\n" ); document.write( "John
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\n" ); document.write( "My calculator said it, I believe it, that settles it
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