Pat deposited $2000,at 6% simple intrest. how long will it be before she has $2600 in her account?
1 answer:
Simple interest=PRT P=principal(initial amount) R=interest rate T=time(in years)
she wants 2600 in her account so 2600-2000=600 dollars in interest so
600=2000*.06*T
600=120T 600/120=5 so in 5 years her account balance will be $2600
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