$7500 is invested at 3.5% per annum simple interest. How long will it take for the amount to reach $8812.50?

asked May 22, 2022 177k views

2 votes

$7500 is invested at 3.5% per annum simple interest. How long will it take for the

amount to reach $8812.50?

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3 votes

Answer:

Required time will be 4 years.

Explanation:

(p×r)

(100×SI)

(14000×4)

(100×2240)

56000

224000

T=4

Ekatef answered May 29, 2022

4.0k points

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