statistics simple interest

label Statistics
account_circle Unassigned
schedule 1 Day
account_balance_wallet $5

Gordon Rosel went to the bank to find out how long it will take for $1400 to amount to $1710 at 8% simple interest. Calculate the number of years

Nov 22nd, 2014

Required interest = 1710-1400 =310

I= PTR/100

310 = 1400 *T*8/100

310 = !4 *8 T

310 = 112 T

T = 2.78 years

   


Nov 22nd, 2014

Did you know? You can earn $20 for every friend you invite to Studypool!
Click here to
Refer a Friend
...
Nov 22nd, 2014
...
Nov 22nd, 2014
Jun 23rd, 2017
check_circle
Mark as Final Answer
check_circle
Unmark as Final Answer
check_circle
Final Answer

Secure Information

Content will be erased after question is completed.

check_circle
Final Answer