Asked by name

If $10,000 is invested in an account at 4.8% annual simple interest, how long will it take for the account balance to grow to $11,200?

I am confused. How do you do this?
Answered by Ms. Sue
I = PRT

1,200 = 10,000 * 0.048 * T

1,200 = 480T

_____ years = T


Answered by name
Thank you
Answered by Ms. Sue
You're welcome.
Answered by name
Where did you get 1,200?
Answered by Ms. Sue
11,200 - 10,000 = 1200 >> interest
Answered by name
Okay, thanks.
There are no AI answers yet. The ability to request AI answers is coming soon!