SOLUTION: Chris invested $8000 in a savings account with simple interest at annual interest rate of 4.5%. How long will it take to earn $2700?

Algebra ->  Customizable Word Problem Solvers  -> Finance -> SOLUTION: Chris invested $8000 in a savings account with simple interest at annual interest rate of 4.5%. How long will it take to earn $2700?      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

Question 752294: Chris invested $8000 in a savings account with simple interest at annual interest rate of 4.5%. How long will it take to earn $2700?
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
I=Prt
2700=8000*0.045*t
2700=360t
2700/360=t
7.5 yrs=t