19 Fred deposits 510,000.00 in an account that earns 8% simple interest. About how many years will it take for his account to earn $5,

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19
Fred deposits 510,000.00 in an account that earns 8% simple interest. About how many years will it take for his account to earn $5,000.00 in interest?

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RuslanHeatt 1 year 2021-09-01T14:03:31+00:00 1 Answers 3 views 0

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  1. minhkhoi
    0
    2021-09-01T14:04:40+00:00
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    Answer: 1 year

    Step-by-step explanation:

    510,000 × .08 = 40,800

    40,800 is way more then 5k so yeah 1 year

    But realistically less than that.

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