alvinoagcaoili66001 alvinoagcaoili66001
  • 16-05-2020
  • Mathematics
contestada

You want to put $8,000 in a simple interest account. It has a 2% annual interest rate. How long must you invest that money to earn $400 in interest? CLEAR CHECK 2.5 years 5 years 10 years 0 years

Respuesta :

Nathaniel419 Nathaniel419
  • 19-05-2020

Answer:

2.5 years

Step-by-step explanation:

Interest= P×R×T÷100

T= 100I÷P×R

T= 100×400÷8000×2

T= 40000÷16000

T= 5÷2

T= 2.5 years

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