WILL GIVE MEDAL !!! Harriet invests $2500 in a mutual fund with an annual interest rate of 3.75%. He also has a 2-year, $5,000 loan at 1.875%. When will the amount of interest earned on the mutual fund be equal to the amount of interest paid on the loan? (Hint: use Prt=Prt)

Question

WILL GIVE MEDAL !!! >> Harriet invests $2500 in a mutual fund with an annual interest rate of 3.75%. He also has a 2-year, $5,000 loan at 1.875%. When will the amount of interest earned on the mutual fund be equal to the amount of interest paid on the loan? (Hint: use Prt=Prt)

tkhunny · Answer

Not enough information, actually.  One needs to know more about the interest rates and how they are treated.