Answer:
t = 0.93 years
(about 0 years 11 months)
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 4.6%/100 = 0.046 per year,
then, solving our equation
t = (1/0.046)((21900/21000) - 1) = 0.93
t = 0.93 years
The time required to get a total amount, principal plus interest, of $21,900.00 from simple interest on a principal of $21,000.00 at an interest rate of 4.6% per year is 0.93 years (about 0 years 11 months).