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jeka57 [31]
3 years ago
9

Bonita deposited $1300 into a bank account that earned 5.75% simple interest each year. She earned $299 in interest before closi

ng the account.
If no money was deposited into or withdrawn from the account, for how many years was the money in the account?
Mathematics
1 answer:
ICE Princess25 [194]3 years ago
8 0

4 years

using I = PRT

then T = \frac{I}{PR}

calculate PR = 1300 × \frac{5.75}{100} = 74.75, hence

T = \frac{299}{74.75} = 4 years



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