# math

posted by
**Spencer** on
.

how long will it take to earn $787.50 on $5000 at 5 1/4%(percent)

what is the rate it is compounded? annually, semi-annually, monthly, what?

dat information is not given

aren't you supposed to be using the interest rate formula? if so, then u have two variables missing, the n and t, and it's impossible to solve that problem without the n

The formula giben to me was the following:

interest = principal x rate x time(in years)

please excuse the typing errors

So plug in 787.50 for interest, 5000 for principal, 0.525 for rate, and solve for t (in years.) That assumes the 5 1/4% is an annual percentage rate, it doesn't compound, and the rate stays the same.

That's **0.0525** for interest. Sorry about the typo.