Question

17. Tiana deposited $500 into an

Answer 1

Answer:

In 50 years the amount will be $ 2000.

Step-by-step explanation:

Tiana deposited $500 into a account at 6 % simple interest per Year .

Therefore, Principal (P) is $500

Amount (Principal + Interest) = $2000

Interest (I) = $2000 - $500 = $1500

Rate percentage (R) = 6% per Year

Let, The time be T years

Now, I = $\frac{P . R . T}{100}$

Or, T = $\frac{100. I }{P . R}$  

Or, T = (100×1500 ) ÷ ( 500× 6 )

    ∴ T = 50 Years