If $10,000 is invested in an account at 4.8% annual simple interest, how long will it take for the account balance to grow to $11,200?

Question

I am confused. How do you do this?

Answer 1

I = PRT

1,200 = 10,000 * 0.048 * T

1,200 = 480T

_____ years = T

Answer 2

Thank you

Answer 3

You're welcome.

Answer 4

Where did you get 1,200?

Answer 5

11,200 - 10,000 = 1200 >> interest

Answer 6

Okay, thanks.