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How long it will talk an investment of $450 to earn $200 in the interest if the yearly interest rate is 6.5% paid at the end of each year ?

How long it will talk an investment of $450 to earn $200 in the interest if the yearly interest rate is 6.5% paid at the end of each year ?
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How long it will talk an investment of $450 to earn $200 in the interest if the yearly interest rate is 6.5% paid at the end of each year ?

How long it will talk an investment of $450 to earn $200 in the interest if the yearly-example-1
User Steve Baek
by
9.2k points

1 Answer

4 votes
I = PRT

solve for T

T = I/PR = 200/(450×0.065) = 6.83761 years
User Saket Patel
by
8.9k points
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