Ask Question
2 February, 18:25

Suppose $16,537.50 in interest was earned after $75,000 was invested at a simple interest rate of 3.15%. How long (in years) was the money invested?

+4
Answers (1)
  1. 2 February, 22:23
    0
    The formula is

    I=prt

    I interest earned 16537.5

    P principle 75000

    R interest rate 0.0315

    T time?

    Solve the formula for t

    T=I:pr

    T=16,537.5: (75,000*0.0315)

    T=7 years
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Suppose $16,537.50 in interest was earned after $75,000 was invested at a simple interest rate of 3.15%. How long (in years) was the money ...” in 📘 Mathematics if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers