chocolatemint28 chocolatemint28

14-02-2018
Mathematics

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Scott deposits $8000 in an account that earns 6% simple interest. How long will it be before the total amount is $10000?

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manandhanteja manandhanteja

14-02-2018

A = P(1 + rt)

solve for t

t = ((A/P)-1)/r = ((10000/8000)-1)/0.06 = 4.167 years

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