An investment of $1800 earned $60.75 at a simple-interest rate of 4.5% per year. For how long was the investment held? Question 1 options: a) Nine years b) Three years c) Three months d) Nine months

Question

Mathematics

Zane

29 July, 07:03

An investment of $1800 earned $60.75 at a simple-interest rate of 4.5% per year. For how long was the investment held? Question 1 options: a) Nine years b) Three years c) Three months d) Nine months

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Trent Williams · Answer 1

D. Nine months

Step-by-step explanation:

Simple interest=principal*rate*time

Principal=$1800

Rate=4.5%

Time=?

Interest=$60.75

Simple interest=principal*rate*time

60.75=1800*4.5*t/100

60.75=8100t/100

60.75=81t

t=60.75/81

t=0.75 year

0.75 years=9 months