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Popular Word Problems >

For how long must Kimberly invest 4130 at 3.75% p.a. for it to earn 929.25 in simple interest?

Solution

F or h o w l o n g m u s t K imb er l y in v es t 4130 a t 3.75% p . a . f or i t t o e a r n 929.25 in s im pl e in t eres t ?

Solution

Time : 6

Solution steps

Translate the problem into an equation:

929.25 = 4130 \cdot 0.0375 t

Solve for

t, 929.25 = 4130 \cdot 0.0375 t : t = 6

Time : 6

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