Discover the answers you need at Westonci.ca, where experts provide clear and concise information on various topics. Discover solutions to your questions from experienced professionals across multiple fields on our comprehensive Q&A platform. Connect with a community of professionals ready to help you find accurate solutions to your questions quickly and efficiently.

In how many years will $7000 yield an interest of $4620 at 22% simple interest?

Sagot :

Answer:

3 Years

Step-by-step explanation:

7000*22% = 1540

4620/1540 = 3

1540 = the yearly interest

so it will take 3 years of $1540 of interest to get $4620.

Normally you would also have to take into account the interest plus the base varible but since it specifically says 7000 it makes it a simple problem.

hope this helped

We appreciate your time. Please come back anytime for the latest information and answers to your questions. Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. Thank you for using Westonci.ca. Come back for more in-depth answers to all your queries.