3 years ago

If $4500 earns $120 simple interest at a flat rate of 2% p.a., calculate the duration of the investment.

1 answer:

4 0

Answer:

1.33 years.

Step-by-step explanation:

$I=PRT$

$120=4500(0.02)T$

$120/90=T$

$T=4/3$

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