document.write( "Question 1180861: Juan earned Php96.00 on a Php1200 deposit at 2% interest rate. For how long was the money deposited? \n" ); document.write( "

Algebra.Com's Answer #810678 by ikleyn(52797) $\"\"$ $\"About$

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document.write( "The simple interest formula is  I = P*r*t,\r\n" );
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document.write( "where P is the principal (1200),  r is the percentage rate expressed as a decimal  (0.02) and t is the time (in years).\r\n" );
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document.write( "So, you have this equation\r\n" );
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document.write( "    96.00 = 1200*0.02*t.\r\n" );
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document.write( "From this equation, you find  t =  =  = 4  years.     ANSWER\r\n" );
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\n" ); document.write( "\n" ); document.write( "To see many other similar (and different) solved problems on simple interest accounts, look into the lesson\r
\n" ); document.write( "\n" ); document.write( " - Simple interest percentage problems \r
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