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
Answer:0.0625
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