Question 401114
At a simple annual interest rate of 4.5%, how many years will it take Sam to earn $135 interest on an original deposit of $1,000?


In the formula, i = prt:
i = interest
p = principle
r = rate
t = time


135 = 1,000(.045)(t) {substituted into formula and changed 4.5% to .045}
135 = 45t {multiplied on right side}
t = 3 years {divided both sides by 45}  
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