Answer: 250 years
Step-by-step explanation:
12/3=4
4 x $1 = $4 per year
$1000/4=250
250 years
Simple interest formula: A = P(1 + rt) where P is the Principal amount of money to be invested at an Interest Rate R% per period for t Number of Time Periods. Where r is in decimal form; r=R/100; r and t are in the same units of time.
Answer:
Step-by-step explanation:
we calculate how much 0.3% is from 3280
y=3280*0.3/100=9.84$
months in 9y
12*9=108
the interest of 9y
108y=1062.72$
the sum of interest + the money borrowed
1062.72+3280=4342.72$
