$1400 is invested at 2% per annum simple interest. How long will it take for the total amount to reach $1624?
1 answer:
Answer:
7.5 years.
Step-by-step explanation:
Use A = 1400(1+0.02)^7.5
The 1400 is the starting money. The 1 is a constant. The 0.02 is the 2% in decimal form. And the 7.5 is years. I found that by just continually increasing it until it hit 1624.
Hope this helps
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