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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?

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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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?

User Jeremy Evans
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1 Answer

6 votes
I = p·r·t (Interest equals principal times rate times time)

945 = 3500 · .06 · t

t = 945÷ (3500 · .06)

t = 4.5 years
User Lakhan Sharma
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8.2k points
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