yzerman9 yzerman9

22-06-2021
Mathematics

contestada

$1400 is invested at 4% per annum simple interest. How long will it take for the amount to reach $1624? Show you working.

Respuesta :

mathstudent55 mathstudent55

22-06-2021

Answer:

4 years

Step-by-step explanation:

I = prt

F = p + prt

F = 1400 + 1400 * 0.04 * t

1624 = 1400 + 1400 * 0.04 * t

224 = 56t

t = 4

Answer: 4 years

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