Plz terrance has $100 that he can invest in a savings account. his bank is willing to pay interest to his account at a rate of 0.04. how long will terrance need to leave the money in the account if he wants to earn $100 in interest, doubling his money? use the formula t = i/pr. a) 25 yrs. b) 10 yrs. c) 40 yrs. d) 5 yrs.

Use the formula t = i/pr:           $100t = = 25 years      ($100)(0.04)

Hello! so, 0.04 rate is 4% interest. 100 * 4% (0.04) is 4. that's $4 earned each year. if terrance wants to earn $100 in interest, then in order to find out how long he needs to leave money in the account, we need to divide the amount of interest by the amount earned each year. $100 is interest and $4 is the annual amount earned. 100/4 is 25. there. terrance will need to leave his money in the account for 25 years. the answer is a: 25 years.