Question

Gordon Rosel went to his bank to find out how long it will take for $1,900 to amount to $2,420 at 7.8% simple interest.

Please solve Gordon’s problem. (Round your answer to 1 decimal place.)
Ekanki
Time 3.5 years
Explanation:

$520 $520
_______________ = ______ = 3.5 years
$1,900 × 0.078 $148.20

Gordon Rosel went to his bank to find out how long it will take for $1,500 to amount to $1,720 at 5%
Gordon Rosel went to his bank to find out how long it will take for $1,500 to amount to $1,720 at 5% simple interest. Calculate the number of years. (Round time in years to the nearest tenth.)