Question

The interest is$375, the principal is $5000,and the rate is 4%. what is the time​

Answer 1

assuming simple interest rate.

`\bf ~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\dotfill&\$375\\ P=\textit{original amount deposited}\dotfill & \$5000\\ r=rate\to 4\%\to (4)/(100)\dotfill &0.04\\ t=years \end{cases} \\\\\\ 375=(5000)(0.04)t\implies \cfrac{375}{(5000)(0.04)}=t\implies \cfrac{375}{200}=t \\\\\\ \cfrac{15}{8}=t\implies 1(7)/(8)=t\impliedby 1~year~and~10(1)/(2)~months`