document.write( "Question 887658: A philanthropist has donated $ 350,000.00 to habitat for humanity . the funds are to be set up in a trust account with them proceeds from interest earned to be used to build new homes. At a return rate of 4.5% and using them simple interest formula, how many months will it take to earn $40,000.00, then average amount it takes to build a house? Round your answer two decimal places. I thought the problems usually would tell you a certain time like in years I've tried working the problem I just really don't understand \n" ); document.write( "
Algebra.Com's Answer #536840 by ankor@dixie-net.com(22740)\"\" \"About 
You can put this solution on YOUR website!
A philanthropist has donated $ 350,000.00 to habitat for humanity .
\n" ); document.write( " the funds are to be set up in a trust account with them proceeds from interest earned to be used to build new homes.
\n" ); document.write( " At a return rate of 4.5% and using the simple interest formula, how many months will it take to earn $40,000.00, the average amount it takes to build a house?
\n" ); document.write( " Round your answer two decimal places
\n" ); document.write( ":
\n" ); document.write( "This is a I = PRT problem, where
\n" ); document.write( "I = interest earned
\n" ); document.write( "P = the principal amt
\n" ); document.write( "T = time in years
\n" ); document.write( ":
\n" ); document.write( " 350000 * .045 * t - 40000
\n" ); document.write( " 15750t = 40000
\n" ); document.write( "t = 40000/15750
\n" ); document.write( "t = 2.5397 yrs
\n" ); document.write( "But they wanted the time in months
\n" ); document.write( "2.5397 * 12 = 30.48 months \n" ); document.write( "
\n" );