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attashe74 [19]
2 years ago
12

Suppose a principal amount of $7500 was invested at an interest rate of 6%. How long did it take to reach $10650?

Mathematics
1 answer:
Oliga [24]2 years ago
6 0

Based on the information how long did it take to reach $10650 is 7years.

Given:

Principal=$7,500

Rate=6%

Amount=$10650

Time=?

Simple Interest(SI)=A-P

=$10650-$7500

=$3150

Time=(100×SI)/(p×r)

T=(100×3150)/(7500×6)

T=315,000/45,000

T=7 years

Inconclusion how long did it take to reach $10650 is 7years.

Learn more here:

brainly.com/question/15610358

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