Anna invested 2,500 at an annual rate 5%. How long will it take until anna earns 1,125 in interest

Question

Anna invested 2,500 at an annual rate 5%. How long will it take until anna earns 1,125 in interest

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Kiệt Gia 3 years 2021-08-28T10:39:57+00:00 1 Answers 187 views 0

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    2021-08-28T10:41:14+00:00

    9514 1404 393

    Answer:

      9 years

    Step-by-step explanation:

    The simple interest formula is …

      I = Prt

    where I is the interest earned on principal P invested at annual rate r for t years. Solving for t, we have …

      t = I/(Pr) = 1125/(2500×.05) = 1125/125

      t = 9 . . . . years

    It will take 9 years for Anna to earn 1125 in interest.

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