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Andrew [12]
3 years ago
13

If you earned 892.50 after depositing 1400 at 4.25% simple interest, how long was it invested ? Using the simple interest formul

a, solve for t. Formula I=Prt
Mathematics
1 answer:
DanielleElmas [232]3 years ago
4 0

Answer:

Time t = 15 years

Step-by-step explanation:

Interest = 892.50

Principal = 1400

Rate = 4.25%

Time = unknown

But

interest I = Principal p * rate r * time t

Time t = interest I/(principal P * rate r)

Time t=( 892.50*100)/(1400*4.25)

Time t=89250/5950

Time t = 15 years

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