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posted by maddie on Monday, May 27, 2013 at 1:14pm.
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?
I = PRT 500 = 4,000 * 0.025 * T 500 = 100T 500/100 = T 5 = T
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