Asked by Anonymous

Alicia Eastman deposited $2,000 in a savings account at the Biltmore Bank paying 6% ordinary interest. How many years will it take for her investment to amount to $2,600?

Using the scenario from the previous question, determine the maturity date of the loan.
Answered by Ms. Sue
I - PRT

600 = 2000 * 0.06 * T

600 = 120T

600 / 120 = T

? = T

Answered by marsha
t=5
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