Algebra

If 10,000 is invested at 4.8% simple interest, how long will it take for the account balance to grow to 11,200.

  1. 👍 0
  2. 👎 0
  3. 👁 252
  1. Solve the equation:
    11200=10000(1+0.048*(how long))

    1. 👍 0
    2. 👎 0
  2. 2 years and 6 months

    1. 👍 0
    2. 👎 0

Respond to this Question

First Name

Your Response

Similar Questions

  1. algebra

    Last year, Susan had 30,000 to invest. She invested some of it in an account that paid 8% simple interest per year, and she invested the rest in an account that paid 7% simple interest per year. After one year, she received a

    asked by Hailey on March 31, 2012
  2. algebra

    A total of $12,000 is invested in two funds paying 9% and 11% simple interest. If the yearly interest is $1,180, how much of the $12,000 is invested at each rate? We have two unknowns: the amount of money invested at 9% and the

    asked by lin on October 6, 2012
  3. math

    Money is invested in a savings account at 3.4% simple interest. After 1 year, there is $1695.76 in the account. How much was originally invested?

    asked by Cathy on February 26, 2013
  4. Simple Interest

    Last year, Ivan had $20,000 to invest. He invested some of it in an acount that paid 9% simple interest per year, and he invested the rest in an account that paid 7% simple interest per year. After one year, he received a total of

    asked by Anonymous on December 10, 2015
  1. algebra

    Solve the problem. Helen Weller invested $15,000 in an account that pays 12% simple interest. How much additional money must be invested in an account that pays 15% simple interest so that the total interest is equal to the

    asked by mark on March 8, 2009
  2. Algebra

    Katie invested a total of $7,000, part at 2% simple interest, and part at 3% simple interest. At the end of 1 year, the investments earned, $184.00 interest. How much was invested at each rate?

    asked by Mae on February 12, 2017
  3. Math

    Larry Mitchell invested part of his $27,000 advance at 5% annual simple interest and the rest at 2% annual simple interest. If his total yearly interest from both accounts was $720​, find the amount invested at each rate

    asked by Jimmy on November 8, 2017
  4. PreCalc

    Suppose that $14,000 is invested in a savings account paying 5.2% interest per year. (a) Write the formula for the amount A in the account after t years if interest is compounded monthly.

    asked by Jacob on December 4, 2016
  1. Algebra

    Last year, Deon had $10,000 to invest. He invested some of it in an account that paid 6%simple interest per year, and he invested the rest in an account that paid 9% simple interest per year. After one year, he received a total of

    asked by Gianna on December 4, 2015
  2. math

    If $10,000 is invested in an account at 4.8% annual simple interest, how long will it take for the account balance to grow to $11,200? I am confused. How do you do this?

    asked by name on January 8, 2017
  3. Algebra ASAP

    Suppose that $17,000 is invested in a savings account paying 5.1% interest per year. (a) Write the formula for the amount A in the account after t years if interest is compounded monthly. A(t) = (b) Find the amount in the account

    asked by Fay on August 3, 2015
  4. Math

    Nico was stunned when he opened the mail. Here was a check for $322.50! This was the interest he earned on his investment. One year ago Nico had been given $5,000. His parents made him put it in the bank and save it for college,

    asked by Erica on April 16, 2012

You can view more similar questions or ask a new question.