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Bogdan [553]
2 years ago
6

Dr. Jones deposited $500 into an account that ears 6% simple interest. How many years will it take for the value of the account

to reach $2000
Mathematics
2 answers:
Lerok [7]2 years ago
6 0

Answer:

50 years

Step-by-step explanation:

Formula for simple interest:

I = Prt

where

I = interest earned

P = principal amount deposited

r = annual interest rate

t = number of years

When the account reaches $2000, $500 is from the principal and

$2000 - $500 = $1500 is from the interest.

We use the simple interest formula to find the number of years needed to earn $1500 in interest from $500 principal at 6% interest rate.

1500 = 500 * 0.06 * t

t = 50

Answer: 50 years

Mekhanik [1.2K]2 years ago
5 0

Answer:

50 years

Step-by-step explanation:

Given data

Principal= $500

Rate= 6%

Amount = $2000

The simple interest expression is given as

A=P(1+rt)

Substitute

2000= 500(1+0.06*t)

open bracket

2000=500+ 30t

2000-500=30t

1500=30t

t= 1500/30

t= 50 years

Hence the time is 50 years

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Answer:

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by doing it like this  

158÷ 12.5

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Sutopa has 3/4 of the money Maneet has. Maneet has $18 less than Kim. Together, they have $286.40. How much money does each of t
anastassius [24]

Solving a system of equations we can see:

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<h3>How much money each of them has?</h3>

First, let's define the variables:

  • S =  money that Sutopa has.
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  • K = money that Kim has.

We can write the system of equations:

S = (3/4)*M

M = K - $18

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First, we can rewrite the second equation to get:

K = M + $18

Now we can replace the first and second equations into the third one:

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Now we can solve this for M:

M*(1 + 1 + 3/4) = $286.40 - $18

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Now we can find the other two values:

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S =  (3/4)*M =  (3/4)*$97.60 = $73.20

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