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cupoosta [38]
3 years ago
12

Suppose $7,558.20 in interest was earned after $12,350 was invested at a simple interest rate of 7.65%. How long (in years) was

the money invested?
Mathematics
1 answer:
vladimir1956 [14]3 years ago
5 0
The formula is
I=prt
I interest earned 7558.20
P principle 12350
R interest rate 0.0765
T time?
Solve the formula for t by dividing both sides by pr to get
T=I/pr
T=7,558.20÷(12,350×0.0765)
T=8 years

Hope it helps!
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