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How long would it take me to earn $139.50 of interest at a 6% interest rate if I started with $930.00

How long would it take me to earn $139.50 of interest at a 6% interest rate if I started with $930.00
asked 134k views
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how long would it take me to earn $139.50 of interest at a 6% interest rate if I started with $930.00

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User MYJ World
by
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1 Answer

4 votes

The simple interest formula is presented as I = PxRxT where I is the interest, P is the principal amount, R is the rate and T is the time.

I = PxRxT

$139.50 = $930.00 x 0.06 x T

T = 2.5 years

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User Raed Alahmad
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