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Popular Word Problems >

April wants to borrow 300 from her father and is willing to pay \$8 in interest. Her father wants to charge an interest rate of 4%. How long can April keep the money?

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Solution

Aprilwantstoborrow300fromherfatherandiswillingtopay$8ininterest.Herfatherwantstochargeaninterestrateof4%.HowlongcanAprilkeepthemoney?

Solution

Time:0.67
Solution steps
Translate the problem into an equation:8=300⋅0.04t
Solve for t,8=300⋅0.04t:t=0.67
Time:0.67

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