Answer:
2years 6 months
Explanation:
First, converting R percent to r a decimal
r = R/100 = 4%/100 = 0.04 per year.
I = P × R × T/100
Solving our equation:
$350 = $3500 × 4 × T /100
Let's solve your equation step-by-step.
350=(3500)(4)t/100
Step 1: Multiply both sides by 100.
350=(3500)(4)t/100
(350)*(100)=((3500)(4)t/100)*(100)
35000=(3500)(4)t
Step 2: Simplify both sides of the equation.
35000=14000t
Step 3: Flip the equation.
14000t=35000
Step 4: Divide both sides by 14000.
14000t/14000=35000/14000
t=5/2
t = 2.5 years
2.5 years = 2years 6 months