SOLUTION: National Bank advertises an interest rate (in decimal form) of 0.15. If your initial investment is $300 and you want to accumulate $300 in interest, how many years do you need to i
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Question 1015219: National Bank advertises an interest rate (in decimal form) of 0.15. If your initial investment is $300 and you want to accumulate $300 in interest, how many years do you need to invest?
I = Prt
Without substitution, solve the formula for the unknown variable in terms of the known variables.
You can put this solution on YOUR website! National Bank advertises an interest rate (in decimal form) of 0.15. If your initial investment is $300 and you want to accumulate $300 in interest, how many years do you need to invest?
I = Prt
Without substitution, solve the formula for the unknown variable in terms of the known variables.
300 = 300*0.15*t
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t = 1/0.15
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time = 6 2/3 years
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Cheers,
Stan H.
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