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mstee37 mstee37
  • 29-08-2016
  • Mathematics
Answered

if i put 1500 into my savings account and earned 180.00 of interest at 4% simple interest , how long was my money in the bank

Verified Answer :

Willchemistry
Willchemistry Willchemistry
  • 29-08-2016

t = ? 

i = 180.00

R = 4% ; 4/100 => 0.04

p = 1500

i = p x  R x t

180.00 = 1500 x 0.04 x t

180.00 = 60 x t

t = 180.00 / 60

t = 3 years

hope this helps!

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