SOLUTION: if using simple interest how much time will it take to earn 468.00 if you invest 1,200 at a rate of 6.5%

SOLUTION: if using simple interest how much time will it take to earn 468.00 if you invest 1,200 at a rate of 6.5%

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Question 874189: if using simple interest how much time will it take to earn 468.00 if you invest 1,200 at a rate of 6.5%

Answer by jim_thompson5910(35256) (Show Source): You can put this solution on YOUR website!
I = P*r*t

468 = 1200*0.065*t

468 = 78*t

468/78 = t

6 = t

t = 6

It will take 6 years.
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