Question

Find the amount of time. I=$237. 90, P=$1525, r=2. 6%
Find the amount of time. __ Years

Answer 1

`~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\dotfill & \$237.90\\ P=\textit{original amount deposited}\dotfill & \$1525\\ r=rate\to 2.6\%\to (2.6)/(100)\dotfill &0.026\\ t=years \end{cases} \\\\\\ 237.90 = (1525)(0.026)(t)\implies \cfrac{237.90}{(1525)(0.026)}=t \implies 6=t`