Question

ow many months will it take if I invest $5000.00 at 5% to make $136.48?

Answer 1

I = PRT

136.48 = 5,000 * 0.05 * T

136.48 = 250T

0.5455 = T

It will take about 7 months.

Answer 2

Since no compounding frequency was given, I will assume simple interest.

I = Po*r*t = $136.48
5000*(0.05/12)*t = 136.48
20.833t = 136.48
t = 6.6 Months.