SOLUTION: National Bank advertises an interest rate (in decimal form) of 0.15. If your initial investment is $300 and you want to accumulate $300 in interest, how many years do you need to i

Question 1015219: National Bank advertises an interest rate (in decimal form) of 0.15. If your initial investment is $300 and you want to accumulate $300 in interest, how many years do you need to invest?
I = Prt
Without substitution, solve the formula for the unknown variable in terms of the known variables.

Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
National Bank advertises an interest rate (in decimal form) of 0.15. If your initial investment is $300 and you want to accumulate $300 in interest, how many years do you need to invest?
I = Prt
Without substitution, solve the formula for the unknown variable in terms of the known variables.
300 = 300*0.15*t
-----
t = 1/0.15
-----
time = 6 2/3 years
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Cheers,
Stan H.
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