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How long must $2100 be invested at an annual interest rate of 3% to earn $200 in simple interest? (I = Prt)

How long must $2100 be invested at an annual interest rate of 3% to earn $200 in simple interest? (I = Prt)
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How long must $2100 be invested at an annual interest rate of 3% to earn $200 in simple interest? (I = Prt)

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User WildThing
by
8.8k points

1 Answer

4 votes
I=Prt
200=2100*0.03*t
t=200/(2100*0.03)
t=3.17
so a little more than 3 years, about 3 years and 2 months.
answered
User Avasal
by
7.6k points
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