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How much time with it take for 450 to yield 81 as interest at 4.5 per annum of simple interesst



User McGiogen
by
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1 Answer

3 votes

Answer:

4 years

Explanation:

The formula for simple interest is useful here.

I = Prt

where P is the principal invested at rate r for t years.

Fill in the given values and solve for t:

81 = 450×0.045×t

81/20.25 = t = 4

It will take 4 years for 450 to yield 81.

User Daniel Haughton
by
6.6k points