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.

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 · Answer

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% · Answer

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.)