annascardua10
annascardua10 annascardua10
  • 04-07-2020
  • Mathematics
contestada

11 You deposit $1200 in an account. The annual interest rate is 3%. How long will it take you to earn S108 in simple interest?

Respuesta :

Sueraiuka
Sueraiuka Sueraiuka
  • 04-07-2020

Answer:

its wht u r searching for...

Ver imagen Sueraiuka
Answer Link
TheAnimeGirl
TheAnimeGirl TheAnimeGirl
  • 04-07-2020

Answer:

3 years

Solution,

Principal=$1200

Rate=3%=3/100=0.03

Interest=$108

Time=?

Now,

[tex]t = \frac{i}{p \times r} [/tex]

[tex] = \frac{108}{1200 \times 0.03} \\ = \frac{108}{36} \\ = 3 \: years[/tex]

Hope this helps...

Good luck on your assignment..

Answer Link

Otras preguntas

What is 3 7/9 as an improper fraction?
Where even the bullet holes have bullet holes is an example of an hyperbole, metaphor, idiom, or simile
Federal courts have the right to --- laws that they feel are violating the Constitution. debate transcribe impeach nullify
what are the differences and similarities of inertia and friction?
what is the distance around a geometric figue called
Why were native Americans forced to abandon their land and move west
How was the Lend-Lease program a significant departure from the policy of neutrality? It gave American convoys permission to attack any German ship that fires f
what is the definition of Epic in Social Studies
Which factor made it more difficult for new immigrants to be assimilated into American society? (A) New immigrants largely favored socialism. (B) New immigrants
What is the proper economic term for money that is available for investment? It is "capital," or even more properly, "financial capital." It is "capital," or ev