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math

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how long will it take to earn $525 in interest if $3500 is invested at 6% annual interest rate ?

  • math - ,

    Pt = Po + r*t*Po.

    Pt = Po + I = 3500 + 525 = 4025.

    Pt = 3500 + 0.06t * 3500 = 4025,
    3500 + 0.06t * 3500 = 4025,
    0.06t * 3500 = 4025 - 3500,
    0.06t * 3500 = 525,
    210t = 525,
    t = 525 / 210 = 2.5 years.

  • math - ,

    Pt = Po + r*t*Po.

    Pt = Po + I = 3500 + 525 = 4025.

    Pt = 3500 + 0.06t*3500 = 4025.
    3500 + 0.06t * 3500 = 4025,
    0.06t * 3500 = 4025 - 3500,
    0.06t * 3500 = 525,
    210t = 525,
    t = 525 / 210 = 2.5 years.

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