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Suppose Marcus invests $750 at an annual rate of 6.25%. How long will it take until Marcus earns $125 in simple interest?
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Suppose Marcus invests $750 at an annual rate of 6.25%. How long will it take until Marcus earns $125 in simple interest?

User Dyll Bro
by
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1 Answer

1 vote
We know, S.I. = P * R * T / 100
Here, S.I. = 125
P = 750
r = 6.25

Substitute into the formula:
125 = 750*6.25*t / 100
4687.5 * t = 12500
t = 12500 / 4687.5
t = 2.67
t = 2 2/3

In short, Your Answer would be 8/3 Years

Hope this helps!

User Louis T
by
5.8k points
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