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2. For a simple interest rate of 10%, p.a calculate the number of year's needed for an interest of $1149.60 to be earned on an investment of $2874​

Respuesta :

Answer:

r=10%

I=1149.60

P=2874

t=(I×100)/(p×r)

(1149.60×100)/(2874×10)

114960÷28740

4 years

given:

[tex]r = 10\%[/tex]

[tex]p = 2874[/tex]

[tex]l = 1149.60[/tex]

to find:

the numbers of year's needed for the investment.

solution:

[tex]t = \frac{l \times 100}{p \times r} [/tex]

[tex]t = \frac{1149.60 \times 100}{2874 \times 10} [/tex]

[tex]t = \frac{114960}{28740} [/tex]

[tex]t = 4[/tex]

therefore, 4 years is needed for the investment.

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