Question

Cindy Lou deposited $85 in the bank earning 4.5% interest annually. About how many years will it take her to earn $11.48 in interest?

Answer 1

Answer:

3.00 years

Step-by-step explanation:

Cindy Lou deposited $85 in the bank earning 4.5% interest annually. About how many years will it take her to earn $11.48 in interest?

Your answer

Given data

Principal= $85

Rate= 4.5%

Intterest=  $11.48

The simple interest formula is

SI= PRT/100

11.48= 85*4.5*T/100

cross multiply

11.48*100= 85*4.5*T

1148=382.5T

divide both sides by 382.5

T= 1148/382.5

T= 3.00 years

Hence the time is 3 years