Question

For Patricia’s graduation, she was gifted $1000. She wanted to put it in a savings account. The account she put it in accrues 4% simple interest. She goes to college and doesn’t touch her money until college graduation. She now has a total of $1,160. Bonus part a) How many years was she in college? (1 point) A) 2 B) 4 C) 6 D) 8 whats the awnser with step by step

Answer 1

Answer:

4

Step-by-step explanation:

Answer 2

Answer :-

Let us assume that, she was in college for x years.

we know that, when interest is given at simple interest per annum ,

• SI = (P * R * T)/100
• A = P + SI .

so,

→ A = P + (P * R * T)/100

→ 1160 = 1000 + (1000 * 4 * x)/100

→ 1160 - 1000 = 40x

→ 40x = 160

→ x = 4 years (Ans.)

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