pankake123 pankake123

06-10-2016
Mathematics

contestada

How much time will a $500 investment need to earn $100 in interest at a rate of 10% per year?

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nobillionaireNobley nobillionaireNobley

08-10-2016

I = prt
t = I/pr
r = 10% = 10/100 = 0.1

t = 100/(500 x 0.1) = 100/50 = 2
t = 2 years.

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