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20 April, 17:11

An investment of $1800 earned $60.75 at a simple-interest rate of 4.5% per year. For how long was the investment held? Question 1 options: a) Nine years b) Three years c) Three months d) Nine months

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  1. 20 April, 19:42
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    D. Nine months

    Step-by-step explanation:

    Simple interest=principal*rate*time

    Principal=$1800

    Rate=4.5%

    Time=?

    Interest=$60.75

    Simple interest=principal*rate*time

    60.75=1800*4.5*t/100

    60.75=8100t/100

    60.75=81t

    t=60.75/81

    t=0.75 year

    0.75 years=9 months
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