math

posted by .

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

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. math

    At a simple annual interest rate of 4.5%, how many years will it take Sam to earn $135 interest on an original deposit of $1,000?
  2. algebra

    A total of $6200 is deposited into two simple interest accounts. On one account the annual simple interest rate is 2%, and on the second account the annual simple interest rate is 4%. The amount of interest earned for 1 year was $148. …
  3. algebra

    An investor wants to receive $1,000 dollars annually from two investments. He has put $4,500 in money market account 4% annual simple interest. How much should he invest in a stock fund that pays 10% annual simple interest to achieve …
  4. math

    Yvonne put $4,000 in a savings account. At the end of 3 years, the account had earned $960 in simple interest. A. how much does she have in her account at the end of 3 years?
  5. University of North Dakota

    an investment club placed $33,000 into two simple interest accounts. On one account, the annual simple intrest rate is 9.5%. On the other, the simple interest rate is 1.5%. How much should be invested in each account so that both accounts …
  6. Essex

    An investment club placed $33,000 into two simple interest accounts. On one account, the annual simple interest rate is 6.5%. On the other, the annual simple interest rate is 4.5%. How much should be invested in each account so that …
  7. simple interest

    A total of $8000 is deposited into two simple interest accounts. On one account, the annual interest rate is 10%, while on the second account the annual simple interest rate is 12%. How much should be invested in the 10% account so …
  8. simple interest

    A total of $12,000 is invested into two simple interest accounts. On one account the annual simple interest rate is 12%, while on the second account the annual interest rate is 18%. How much should be invested at 12% so that the interest …
  9. Math- Interest Rates

    Yvonne put $4,000 in a savings account. At the end of 3 years, the account had earned $960 in simple interest. A. how much does she have in her account at the end of 3 years?
  10. math

    An investment club placed $36,000 into two simple interest accounts. On one account, the annual simple interest rate is 8.5%. On the other, the annual simple interest rate is 3.5%. How much should be invested in each account so that …

More Similar Questions