Question

Calculate the time in which * 5,000 would
become * 5,500 at an interest rate of 8% per
annum.
ill money deposited in a bank​

Answer 1

Answer:

15month.

Step-by-step explanation:

interest of $ 5000 @ 8% for 12 months is (5000×8/100) = $400.

time required to get$500 interest @8% = (12×500/400) months = 15 months.