how long will it take to earn 525$ in interest if $3500 is invested at a 6% annual interest rate?

Assuming simple interest, I = PRT

Interest = Principal x Rate x Time

525 = 3500(.06)T
525 = 210T
T = ? years

2.5 years

To calculate how long it will take to earn $525 in interest with $3500 invested at a 6% annual interest rate, you can use the formula for simple interest:

Interest = (Principal * Rate * Time)

Given:
Principal (P) = $3500
Rate (R) = 6% = 0.06
Interest (I) = $525

We need to solve for Time (T).

Substitute the values into the formula and rearrange to solve for T:

525 = (3500 * 0.06 * T)

Divide both sides of the equation by (3500 * 0.06):

525 / (3500 * 0.06) = T

T = 525 / 210 = 2.5

Therefore, it will take 2.5 years to earn $525 in interest with $3500 invested at a 6% annual interest rate.

To determine how long it will take to earn $525 in interest, we need to calculate the time using the formula for simple interest: I = P * R * T, where I represents the interest earned, P is the principal amount (initial investment), R is the annual interest rate, and T is the time in years.

In this case, we know that the principal amount is $3500, the annual interest rate is 6% (or 0.06 as a decimal), and we want to find the time it takes to earn $525 in interest. So, we can rearrange the formula to solve for T:

T = I / (P * R)

Plugging in the values, we get:

T = 525 / (3500 * 0.06)

T = 525 / 210

T ≈ 2.5 years

Therefore, it will take approximately 2.5 years to earn $525 in interest if $3500 is invested at a 6% annual interest rate.