statistics simple interest

Statistics
Tutor: None Selected Time limit: 1 Day

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

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Nov 22nd, 2014
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