nookolelady nookolelady
  • 07-08-2016
  • Mathematics
contestada

Jerry Stevens wants to know how long it will take 1,100 to amount to 1,750 at a simple interest rate of 8%. Could you help Jerry? Round time in years to nearest tenth.

Respuesta :

Kunchan
Kunchan Kunchan
  • 07-08-2016
Interest per year 
1100 * (8/100)
88

Need interest
1750 - 1100
650

Take time to reach that amount
650 / 88
7.386 years
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