math

posted by .

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.

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. math

    how long will it take to earn $787.50 on $5000 at 5 1/4%(percent) what is the rate it is compounded?
  2. Math

    How long will it take to earn $252 in interest if $1200 is invested at a 7% annual interest rate?
  3. Math

    how long will it to earn $525 in interest if 3500. is invested at 65 apr?
  4. math

    how long will it take to earn 525$ in interest if $3500 is invested at a 6% annual interest rate?
  5. pre-algebra

    how long will it take to earn $568.75 in interest if $2500 is invested at a 6.5% annual interest rate
  6. Math

    Larry has an annual return of $213.00 from $3000.00 invested at simple interest. One at 5% and the other at 8%. How much is invested at each rate. (Hint, Interest earned = amount invested x rate of interest.)
  7. math

    You want to put $4,000 in a simple interest account. It has a 2.5% annual interest rate. How long will it take you to earn $500 in interest?
  8. math

    How long will it take to earn $252 in interest if $1200 is invested at a 7% annual interest rate?
  9. Essex

    An investment club placed $33,000 into two simple interest accounts. On one account, the annual simple interest rate is 6.5%. On the other, the annual simple interest rate is 4.5%. How much should be invested in each account so that …
  10. math

    An investment club placed $36,000 into two simple interest accounts. On one account, the annual simple interest rate is 8.5%. On the other, the annual simple interest rate is 3.5%. How much should be invested in each account so that …

More Similar Questions