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30 January, 05:57

Gordon Rosel went to his bank to find out how long it will take for $2,500 to amount to $3,090 at 6% simple interest. Calculate the number of years. (Round time in years to the nearest tenth.)

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Answers (2)
  1. 30 January, 08:21
    0
    It will take 4 years
  2. 30 January, 09:54
    0
    A (t) = P (1+rt)

    2310 = 1800 (1+0.0775*t)

    1.2833 = 1+0.0775t

    0.0775t = 0.2833
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