Question

Jerry stevens wants to know how long it will take $1,100 to amount to $1,750 at a simple interest rate of 8 1/2%. Could you help jerry? Round time in years to nearest tenth

Answer 1

`\bf \qquad \textit{Simple Interest Earned Amount}\\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\to &\$1750\\ P=\textit{original amount deposited}\to& \$1100\\ r=rate\to 8(1)/(2)\%\to (8(1)/(2))/(100)\to &0.085\\ t=years \end{cases} \\\\\\ 1750=1100(1+0.085t)`

solve for "t"