Question

Hector puts a principal of $5,600 in a savings account with a simple interest rate of 8%. After several years, he withdraws the balance of $11,424. How many years did he leave his investment in this particular savings account?

Simple interest: I = P · r · t
11 years
12 years
13 years
14 years

Answer 1

C. 13 years

Explanation:

Answer 2

c.) 13 years

Explanation:

5,600*.08*13=5,824

5,824+5,600=11,424