SOLUTION: How long will Asanda have to wait before her R5000, invested at 5% simple interest per year, accumulates to R5187,50??

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Question 951359: How long will Asanda have to wait before her R5000, invested at 5% simple interest per year, accumulates to R5187,50??
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
How long will Asanda have to wait before her R5000, invested at 5% simple interest per year, accumulates to R5187,50??
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A(t) = P(1+rt)
5187.50 = 5000(1+0.05t)
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1 + 0.05t = 1.0375
0.05t = 0.0375
t = 0.75 years
Ans (3/4)(12 months) = 9 months
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Cheers,
Stan H.