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ccush1972 ccush1972
  • 17-02-2015
  • Mathematics
Answered

pat deposited $2000,at 6% simple intrest. how long will it be before she has $2600 in her account?

Verified Answer :

elpro217
elpro217 elpro217
  • 17-02-2015

simple interest=PRT  P=principal(initial amount)  R=interest rate  T=time(in years)
she wants 2600 in her account so 2600-2000=600 dollars in interest so   

600=2000.06T
600=120T  600/120=5  so in 5 years her account balance will be $2600

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