Answer :
6.5% of 1,550 = 1,550 * .065 = 100.75 per year 100.75 * T years = 302.25 T = 302.25/100.75 = 3 years
ur answer is 3
ur answer is 3
Answer:
Time = 3 years.
Step-by-step explanation:
The simple interest can be calculated by the formula :
Simple Interest = PXTXR
Where = Principal
T= time .
R= rate of Interest.
The question is asking us to find time t.
T=[tex]\frac{S.I}{PXR}[/tex]
S.=-$302.25,P=$1,559 ,r=6.5%=0.065.
Substituting these values in the formula :
T=[tex]\frac{302.25}{1550x0.065}=3[/tex]
Time = 3 years.