Question

Need this by midnight please show your work :)

Answer 1

• See below

Explanation:

Part 1

• P = $800
• r = 2% (since P > $500)
• I = $100
• t = ?

Find t:

• I = Prt

• 100 = 800*0.02t
• 0.16t = 1
• t = 1/0.16
• t = 6.25 years

Part 2

• P = $100
• r = 1.5% (since P < $500)
• I = $50
• t = ?

Find t:

• I = Prt

• 50 = 100*0.015t
• 0.03t = 1
• t = 1/0.03
• t = 33.33 years

Part 3

• P = $10000
• r = 3% (since P > $5000)
• I = $750
• t = ?

Find t:

• I = Prt

• 750 = 10000*0.03t
• 300t = 750
• t = 750/300
• t = 2.5 years