Question

In how many years will $1,200 yeild an interest of $ 180 at 3% simple interest

Answer 1

Step-by-step explanation:

amount = principal + interest

amount = 1200 + 180

amount = 1380

A = P (1 + rt)

1380 = 1200 (1 + 3t)

1380 = 1200 + 3600t

180 = 3600t

t = 0.05 years

Answer 2

Answer:

5 years

Step-by-step explanation:

let x be the time

180 = (1200 * 3 * x)/100

180 = 36x

x = 180/36

x = 5