Question

if i put 1500 into my savings account and earned 180.00 of interest at 4% simple interest , how long was my money in the bank

Answer 1

t = ?

i = 180.00

R = 4% ; 4/100 => 0.04

p = 1500

i = p x R x t

180.00 = 1500 x 0.04 x t

180.00 = 60 x t

t = 180.00 / 60

t = 3 years

hope this helps!