# math

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Alicia Eastman deposited \$2,000 in a savings account at the Biltmore Bank paying 6% ordinary interest. How many years will it take for her investment to amount to \$2,600?

• math -

P = Po + Po*r*t = 2600
2000 + 2000*(0.06/360)t = 2600
2000 + t/3 = 2600
t/3 = 2600-2000 = 600
t = 1800 Days.
t = 1800Days / 360Days/yr. = 5 Yrs.

Ordinary int. is based on 360 days/yr.

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