esthercardenas11 esthercardenas11

28-08-2021
Mathematics

contestada

Find the missing value. Round your answer to the nearest year.
Rate
Time
Principal
$500
Simple Interest
$84
Х
2.8%
years
What is the amount of years

Respuesta :

jimthompson5910 jimthompson5910

28-08-2021

Answer: 6 years

===============================================

Work Shown:

i = P*r*t

84 = 500*0.028*t

84 = 14t

t = 84/14

t = 6

It takes 6 years to yield $84 in simple interest, when you deposit $500 at a simple interest rate of 2.8%

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