Question

with a principal value of $6000 at an interest rate of 10%, how long would it take to have $3000 in interest

Answer 1

`~~~~~~ \textit{Simple Interest Earned} \\\\ I = Prt\qquad \begin{cases} I=\textit{interest earned}\dotfill & \$ 3000\\ P=\textit{original amount deposited}\dotfill & \$6000\\ r=rate\to 10\%\to (10)/(100)\dotfill &0.1\\ t=years \end{cases} \\\\\\ 3000 = (6000)(0.1)(t) \implies \cfrac{3000}{(6000)(0.1)}=t\implies 5=t`