Question

1 = $60, P = $750, r = 4%, t = ?. Find the amount of time.​

Answer 1

287.5 years

Explanation:

First, converting R percent to r a decimal

r = R/100 = 4%/100 = 0.04 per year,

then, solving our equation

t = (1/0.04)((750/60) - 1) = 287.5

t = 287.5 years