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March 28, 2017

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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?

  • math - ,

    I = PRT

    500 = 4,000 * 0.025 * T

    500 = 100T

    500/100 = T

    5 = T

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