If Sonja deposits $1,000 into a savings account at 4% simple interest, how long will it
take her to earn $100 in interest? (I = PRT)

Respuesta :

Well, does she earn this interest per month?? or is it per year.

4% of $1000 is $40 dollars

so it would take her 2 years (If this 4% is due every year. if not just change the "year" to months) to reach 80 dollars. She just needs 20 dollars which is half of the 40 she earns per year. half of a year is 6 months so the answer would be

Sonja would need to keep her 1000 dollars in the savings account for 2 and a half years to earn 100 dollars exact.

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