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6 July, 16:22

Hector puts $150 into an account when the interest rate is 4 percent. later he checks his balance and finds he has about $168.73. how long did hector wait to check his balance?

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  1. 6 July, 19:17
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    3 years, 1 month, and 15 days.

    Find time by using the formula

    (I = P · i · t) where I is interest, P is total principal, i is rate of

    interest per year, and t is total time in years.

    In this problem I = $18.73, P = $150 and i = 4%
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