SOLUTION: rosa invested $600 at 3.9% simple interest. At the investment's maturity, its value was $1302, how long was the money invested?

SOLUTION: rosa invested $600 at 3.9% simple interest. At the investment's maturity, its value was $1302, how long was the money invested?

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Question 719011: rosa invested $600 at 3.9% simple interest. At the investment's maturity, its value was $1302, how long was the money invested?
Answer by god2012(113) (Show Source): You can put this solution on YOUR website!
Solution :
Given : Principal = $600
Amount at maturity = $1302
Rate of interest = 3.9%
Interest = Amount - Principal = $1302 - $600 = $702
Simple interest = I = P*T*R /100
T = 100*I/PR = 100 * 702 / (600 * 3.9) = 30 years

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