Answered

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PLEASE HELP!

How many years would it take to earn $225 on a $750 investment at 5% simple interest?

Sagot :

Answer:

T = 6 years

Explanation:

Given that,

Principal, P = $750

Interest = $225

Rate of interest = 5%

We need to find in how many years it would take to earn $225 on a $750 investment at 5% simple interest. The formula for simple interest is given by :

[tex]I=\dfrac{PRT}{100}\\\\T=\dfrac{100I}{PR}\\\\T=\dfrac{100\times 225}{750\times 5}\\\\T=6\ years[/tex]

So, the required time is 6 years.

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