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21 August, 15:59

The simple interest I on an investment of P dollars at an interest rate r for t years is given by I = prt. Find the time it would take to earn $900 in interest on an investment of $21,000 at a rate of 4.6%.

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  1. 21 August, 16:31
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    T=i/pr

    t=900: (21,000*0.046)

    t=0.93167 y
  2. 21 August, 19:04
    0
    I = prt

    I/pr = prt/pr

    t = I/pr

    t = $900/$21000 x 0.046

    t = $900/966

    t =.9317 years
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