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dlinn [17]
4 years ago
12

Don Tinsley lends $5,500 at a rate of 5.5%. Find how long it will take for his investment to earn $205 in interest. Round to the

nearest day.
Mathematics
2 answers:
never [62]4 years ago
8 0
Well i would say 1 day then because he earns 302 dollars per day.
Anna [14]4 years ago
5 0
If you mean simple interest
I=PRT
P=principle
R=rate
T=time in years


so I=205
205=5500 times 0.055 times t
205=302.5 times t
divide both sides by 302.5
0.67768595041322314049586776859504=t
year is 365 days
365 times 0.67768595041322314049586776859504=247.355
about 247 days
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