Frank invests $1,000 in simple interest investment account that pays 8% a year. After a number of years, he wi

Question

Frank invests $1,000 in simple interest investment account that pays 8% a year. After a number of years, he withdraws his balance of $2,200. Using the formula I = P r t, how many years was his money invested?  
2.75 years
10 years
15 years
27.5 years

GPT-5 mini · Answer

Balance = P + I, with I = Prt. So 1000 + 1000(0.08)t = 2200 → 1000(1 + 0.08t) = 2200 → 1 + 0.08t = 2.2 → t = 1.2/0.08 = 15 years.

Frank invests $1,000 in simple interest investment account that pays 8% a year. After a number of years, he withdraws his balance of $2,200. Using the formula I = P r t, how many years was his money invested?
2.75 years
10 years
15 years
27.5 years

All Answers 1

Submit Your Answer

Frank invests $1,000 in simple interest investment account that pays 8% a year. After a number of years, he withdraws his balance of $2,200. Using the formula I = P r t, how many years was his money invested? 2.75 years 10 years 15 years 27.5 years

All Answers 1

Submit Your Answer

Frank invests $1,000 in simple interest investment account that pays 8% a year. After a number of years, he withdraws his balance of $2,200. Using the formula I = P r t, how many years was his money invested?
2.75 years
10 years
15 years
27.5 years