SOLUTION: Jana invests �300 at a simple interest rate at 4.5% per year.at the end of each year jane gives the interst to a charit. work out the least number of years it will take for the t

Question 1034031: Jana invests �300 at a simple interest rate at 4.5% per year.at the end of each year jane gives the interst to a charit.
work out the least number of years it will take for the total amount given to th charity to be greater than �50.
Answer by fractalier(6550) (Show Source): You can put this solution on YOUR website!
Simple interest is given by
I = Prt
so here, one year's interest is
I = 300(.045) = �13.5
Divide 50 by 13.5 and get 3.7 years...thus
she will need four years to donate �50...
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