The time it will take for Teri's account to earn $6000 = 87 years
The total amount of money invested by Teri ( p) = $2500
The interest rate of the investment (r) = 2.75%
The simple interest is ( I) = $6000
Therefore the time to generate the interest of $6000
[tex] \frac{i \times 100}{p \times r \: } = t[/tex]
Therefore, time =
[tex] \frac{6000 \times 100}{2500 \times 2.75} [/tex]
[tex] \frac{600000}{6875} [/tex]
=87 years.
Therefore, the time it will take for Teri's account to earn $6000 = 87 years
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