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20 October, 23:55

Rolands mom save money for college. She put $5,000 into a savings account with a 4% interest rate. When she withdrew it had earned $400 in interest how many years was the Money in the Bank

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  1. 21 October, 00:14
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    Answer: 2 years

    Step-by-step explanation:

    First, convert your rate into a decimal

    r = R/100 = 4%/100 = 0.04 per year,

    then, solving our equation

    t = 400 / (5000 * 0.04) = 2

    t = 2 years
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