Question

the length of time for $50000 to earn $160 if invested at 10%per annum using simple interest

Answer 1

Answer:

To use the simple interest formula, I = Prt, we substitute in the values for variables ... The rate of interest is usually expressed as a percent per year, and is ... If an amount of money, P, the principal, is invested for a period of t years at ... t = time. Interest earned according to this formula is called simple interest.

Step-by-step explanation: