Asked by Tonya
Lance Lopes went to his bank to find out how long it will take for $1,700 to amount to $2,900 at 10% simple interest. Can you solve Lance’s problem?
Answers
Answered by
Ms. Sue
I = Prt
1200 = 1700 * 0.1 * t
1200 = 170t
1200 / 270 = t
7.1 years = t
Btw -- when did banks last pay 10% interest??
1200 = 1700 * 0.1 * t
1200 = 170t
1200 / 270 = t
7.1 years = t
Btw -- when did banks last pay 10% interest??