Question

¿Qué tiempo será necesario para que $ 2.340.260 se conviertan en $3.393.377 al 1,25% de interés simple mensual?

Answer 1

Answer:

The right solution is "36 years".

Step-by-step explanation:

Given:

Principle,

P = $2,340,260

Amount,

A = $3,393,377

Simple interest,

SI = 3,393,377 - 2,340,260

   = $1,053,117

Rate of interest,

r = 1.25%

As we know,

⇒ $SI=\frac{Prt}{100}$

By substituting the values, we get

⇒ $1053117=\frac{2340260\times 1.25\times t}{100}$

⇒ $10531170=292532.5\times t$

⇒              $t=\frac{10531170}{292532.5}$

⇒                $=36 \ years$