Jeffrey is taking a trip to Vine Valley. On Sunday, he was 40 miles from his hometown. He drives 240 miles per day. The total di
1 answer:
You might be interested in
Answer:
2yrs
Step-by-step explanation:
Given parameters:
Amount of interest earned = $40
Principal = $400
Interest rate = 5%
Unknown:
Time taken for the money to be in bank = ?
Solution:
The formula for interest is given as:
I =
Where I is the interest
P is the principal
R is the rate
T is the time
So;
100I = PRT
T = =
= 2yrs