SOLUTION: How many months would it take to earn $450 on a deposit of $8,000 earning 4.5% simple interest?
Algebra.Com
Question 1108313: How many months would it take to earn $450 on a deposit of $8,000 earning 4.5% simple interest?
Answer by addingup(3677) (Show Source): You can put this solution on YOUR website!
Calculate time: t = I/Pr where t is the time, I is the interest amount, P the principal, and r the rate of interest:
t = 450/(8000*0.045) = 1.25 years
RELATED QUESTIONS
At a simple annual interest rate of 4.5%, how many years will it take Sam to earn $135... (answered by algebrahouse.com)
How much must be placed in a five months term deposit earning 4.4 simple interest in... (answered by jorel555)
1. How long will it take for $300 to grow to $450 in an account earning 5% simple... (answered by Boreal)
you deposit $200 in an account that earns 10% interest. how many months will it take to... (answered by rfer)
How many days will it take for ₱25,000 to earn a simple interest of ₱895.84 at... (answered by ikleyn)
Orla puts $37,000 in a 3 month term-deposit, earning a simple interest rate of 4.25% pa.... (answered by mini_s)
How much simple interest will a man earn at 9% in one year and 6 months with an
initial (answered by Boreal)
You deposit $3,000 in a savings account that earn 9% simple interest per year. How many... (answered by EMStelley)
How many days will it take for a sum of $1300 to earn $8 interest if it is deposited in a (answered by stanbon,Boreal)