Mary invested $200 for 3 years at 5% per annum. John invested $300 at the same rate. If they both received the same amount of in
1 answer:
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Answer:
Step-by-step explanation:
we know that
The simple interest formula is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest
t is Number of Time Periods
in this problem we have
The inequality that represented this situation is
substitute the values and solve for t