MATH HELP ASAP!

posted by DerpyPegasus33

Randee invested $1000 for college in an account earning 5% simple interest. When she withdrew the investment, she had earned a total of $550 in interest. How long was the money invested?

A 9 years
B 10 years
C 11 years
D 12 years

  1. Janey

    So you first need to find what 5% of $1000 is. You can do that by multiplying $1000 by .05. You would get X. $550/X= your answer.

  2. DerpyPegasus33

    So it's C? 11 yrs? Anyways thanks Janey :3

  3. Reiny

    Time = Interest/(principal x rate)
    = 550/(1000(.05) = 550/50 = 11
    yup, its 11

  4. DerpyPegasus33

    YES!

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