SOLUTION: 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?

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Question 846806: 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?
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
I=Prt
t=I/Pr
t=500/(4000*0.025)
t=5 yrs