Question

Find the amount of time.
8. I = $2000, P = $5000, r = 8%

Answer 1

t = 5 years

Explanation:

I = $ 2000

P = $ 5000

r = 8%

`I = P * (r)/(100)*t\\\\t =( I * 100)/(P*r)\\\\t =(2000*100)/(5000*8)\\\\ = 5`