goat2019 goat2019
  • 17-04-2019
  • Mathematics
contestada

The interest is$375, the principal is $5000,and the rate is 4%. what is the time​

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jdoe0001 jdoe0001
  • 17-04-2019

assuming simple interest rate.

[tex]\bf ~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\dotfill&\$375\\ P=\textit{original amount deposited}\dotfill & \$5000\\ r=rate\to 4\%\to \frac{4}{100}\dotfill &0.04\\ t=years \end{cases} \\\\\\ 375=(5000)(0.04)t\implies \cfrac{375}{(5000)(0.04)}=t\implies \cfrac{375}{200}=t \\\\\\ \cfrac{15}{8}=t\implies 1\frac{7}{8}=t\impliedby 1~year~and~10\frac{1}{2}~months[/tex]

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