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Popular Word Problems >

697 interest is earned on a principal of 5,504 at a simple interest rate of 1.45% per year. For how many years was the principal invested? Round to the nearest year.

Solución

697 in t eres t i s e a r n e d o n a p r in c i p a l o f 5, 504 a t a s im pl e in t eres t r a t e o f 1.45% p er ye a r . F or h o w man y ye a rs w a s t h e p r in c i p a l in v es t e d ? R o u n d t o t h e n e a res t ye a r .

Solución

Time : 8.73

Pasos de solución

Translate the problem into an equation:

697 = 5504 \cdot 0.0145 t

Resolver para

t, 697 = 5504 \cdot 0.0145 t : t = 8.73

Time : 8.73

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