Question

2. For a simple interest rate of 10%, p.a calculate the number of year's needed for an interest of $1149.60 to be earned on an investment of $2874​

Answer 1

Answer:

r=10%

I=1149.60

P=2874

t=(I×100)/(p×r)

(1149.60×100)/(2874×10)

114960÷28740

4 years