Question

A man invested $800 at a 5.5% annual interest rate. How long will it take for his

money to earn $132 in interest?

Answer 1

3 years

Explanation:

I assume it's simple interest.

I = Prt

132 = 800 * 0.055 * t

t = 132/(800 * 0.055)

t = 132/44

t = 3

Answer: 3 years