Question

Q3: How long would $1250 have to be deposited .
at 6% per year to gain a simple interest of $150.​

Answer 1

Step-by-step explanation:

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Answer 2

Answer:

2 years

Step-by-step explanation:

S.I. = $150

R = 6% per annually

Principal = $1250

Let time taken be t,

Formula for finding SI

SI = P * R* T/100

SI × 100 = P×R×T

SI ×100/P×R = T

T = 150×100/ 1250 ×6

T= 2years