How long must $1000 be invested at an annual interest rate of 3% to earn $300 in sinple interest?

Stef asked Nov 28, 2023

90,717 views

16 votes

Stef asked Nov 28, 2023

by Stef

3.1k points

Your comment on this question:

Email me at this address if a comment is added after mine:Email me if a comment is added after mine

Privacy: Your email address will only be used for sending these notifications.

Email me at this address if my answer is selected or commented on:Email me if my answer is selected or commented on

Privacy: Your email address will only be used for sending these notifications.

25 votes

$\begin{gathered} S\mathrm{}I=(Prt)/(100) \\ 300=(1000*3* t)/(100) \\ t=\text{ 10 year} \end{gathered}$

Dongshengcn answered Dec 4, 2023

3.3k points

Email me at this address if a comment is added after mine:Email me if a comment is added after mine

Privacy: Your email address will only be used for sending these notifications.

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

1.6m questions

2.0m answers