In what time will $500 give $50 interest at the rate of 5% per year

Using simple interest formula:

As per the given statement:

$500 give $50 interest at the rate of 5% per year.

To find the time T;

Here, P = $500 , I = $50 , R = 5%

Substitute these given values in the given formula we have;

Simplify:

Divide both sides by 25 we get;

T = 2 years

Therefore, in 2 years will $500 give $50 interest at the rate of 5% per year

ask the math teacher she or he would know lol.

step-by-step explanation: