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Mackenzie invested $3500 in a mutual fun at a yearly rate of 6%. She earned $945 in interest. For how long was the money invested?
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Dec 3, 2018
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Mackenzie invested $3500 in a mutual fun at a yearly rate of 6%. She earned $945 in interest. For how long was the money invested?
Mathematics
middle-school
Jeremy Evans
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I = p·r·t (Interest equals principal times rate times time)
945 = 3500 · .06 · t
t = 945÷ (3500 · .06)
t = 4.5 years
Lakhan Sharma
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Dec 8, 2018
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