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4 years ago

11

Nicole deposited $2,000 at 6% simple interest. How long will it be before she has $2,600 in her account?

1 answer:

coldgirl [10]4 years ago

7 0

$\bf \qquad \textit{Simple Interest Earned Amount}\\\\
A=P(1+rt)\qquad 
\begin{cases}
A=\textit{accumulated amount}\to &2,600\\
P=\textit{original amount deposited}\to& \$2,000\\
r=rate\to 6\%\to \frac{6}{100}\to &0.06\\
t=years
\end{cases}$

solve for "t"

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