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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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Mathematics
3 years
2021-08-28T10:39:57+00:00
2021-08-28T10:39:57+00:00 1 Answers
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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.