Asked by Annie

How long would you have to invest $5300 at 7.2%/a simple interest to earn $1200 interest

13 years ago

Answered by Ben

A=P(1+r)^t, A=1200 P=5300 R=7.2/100, now solve for t

13 years ago

Answered by Steve

At simple interest (not compound) the equation is

Interest = Prt
1200 = 5300 * .072 * t
t = 3.2 years

13 years ago

Answered by Charla

T=I/Pr1200/5300* 7.2%
T=1200/ 5300* .072
T=1200/381.60
T=3.1444

13 years ago

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