3 years ago

Please help meI need help on this question, and I will give you brainliest

Mathematics

1 answer:

Aleksandr [31]3 years ago

5 0

Answer:-/22346

Step-by-step explanation:

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Mr. Champion invests 34,000 into a money-market fund that pays 4.8% simple interest. How long will it take for him to earn $8,16

Tanzania [10]

Answer:

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Step-by-step explanation:

Step one:

Given Information

Principal= $34,000

rate = 4.8%

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Required

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Step two:

the expression for simple interest is

$SI= PRT/100$

substitute

$8160 = 34000*4.8*T/100$

cross multiply we have

$8160*100= 34000*4.8*T\\\\816000= 163200T\\\\$

divide both sides by 163200

$816000/163200= T\\\\T= 5 years$

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