Solve for the unknown number of years in each of the following: Present Value $810 Interest Rate 8% Future Value $1,821 Years - ?

Question

asked Jul 25, 2024 149k views

1 Answer

Dzendras · Answer 1 · 2024-07-30T12:23:44+0000

Answer:

15.6 years

Explanation:

I assume this is simple interest.

I = prt

I = 1821 - 810 = 1011

1011 = 810 × 0.08 × t

t = 1011/(810 × 0.08)

t = 15.6

Answer: 15.6 years