Jnlforester Jnlforester

24-11-2020
Mathematics

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Mike has $5,000. He deposits it in a bank that offers an annual interest rate of 4%. How long does he need to leave it in the bank in order to earn $1000 in interest?

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Respuesta :

28-11-2020

Answer:

5years

Step-by-step explanation:

interest = ptr/100

1000=5000*t*4/100

1000*100/5000*4=time

5years=time

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