Answer:
about 6 years 3 months
Explanation:
First, converting R percent to r a decimal
r = R/100 = 3.1%/100 = 0.031 per year,
then, solving our equation
t = 10100 / ( 52000 × 0.031 ) = 6.2655
t = 6.2655 years
The time required to
accumulate simple interest of $ 10,100.00
from a principal of $ 52,000.00
at an interest rate of 3.1% per year
is 6.2655 years (about 6 years 3 months).