jenny invests $250 at a rate of 8% and earns $40.how long did she leave her money invested?
250 * 0.08 = $20
40 / 20 = ?
2 years
To find out how long Jenny left her money invested, we can use the formula for simple interest:
Interest = Principal * Rate * Time
Given that Jenny invests $250 at a rate of 8% and earns $40, we can plug in the values to solve for Time:
$40 = $250 * 8% * Time
First, convert the percentage to a decimal by dividing it by 100:
8% = 8/100 = 0.08
Now, substitute the values into the equation:
$40 = $250 * 0.08 * Time
Next, divide both sides of the equation by $250 * 0.08 to isolate Time:
Time = $40 / ($250 * 0.08)
Calculating the expression gives:
Time = $40 / $20
Simplifying further, we get:
Time = 2
Therefore, Jenny left her money invested for 2 time units. However, without specific information about the time units, we cannot determine if it is in days, months, or years.