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Popular >

it $2000 in an account that earns simple interest at an annual rate of 4% How long $500 in interest?

Solution

it $2000 in an account that earns simple interest at an annual rate of 4% How long $500 in interest?

Solution

Time : 6 \frac{1}{4}

Solution steps

Translate the problem into an equation:

500 = 2000 \cdot 0.04 t

Solve for

t, 500 = 2000 \cdot 0.04 t : t = 6 \frac{1}{4}

Time : 6 \frac{1}{4}

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