Answer:
1 year
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 5%/100 = 0.05 per year,
then, solving our equation
t = 25 / ( 500 × 0.05 ) = 1
t = 1 years
The time required to
accumulate simple interest of $ 25.00
from a principal of $ 500.00
at an interest rate of 5% per year
is 1 year.
