John invested the money at simple interest for 4.22 years.
We have,
Invested amount = $ 4500
Rate of interest = 5.5 %
Time = t years
Maturity value = $ 5545
So,
Total interest earned = $ 5545 - $ 4500 = $ 1045
And,
Simple interest = (Principal × Rate × Time ) / 100
So, Using the mentioned formula,
1045 = ( 4500 × 5.5 × t ) /100
1045 = 45 × 5.5 × t
⇒
t = (1045) / (45 × 5.5)
⇒ t = 4.22 years
Therefore, John invested the money at simple interest for 4.22 years.
Learn more about simple interest here:
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Answer:
The correct answer is:
c. Time is an exponent while the other units are factors.
Explanation:
In the compound interest formula, time is the exponent.
Since it is the exponent, this tells us how many times the base is multiplied by itself. As such, it has a larger effect on the answer than any other piece of the equation.
Answer:
b
Step-by-step explanation:
Answer:
i think it is 1/100
Step-by-step explanation:
4/20^2 add all the marbles number together than put the amount of orange marbles on top of it so it is 4/20 than square it
