Posted by **teeka** on Monday, November 29, 2010 at 11:03am.

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

- math -
**Henry**, Tuesday, November 30, 2010 at 10:49am
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 -
**Henry**, Tuesday, November 30, 2010 at 11:09am
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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