how ling it will take for an investment of 1950to accumulate to 2129.55at 6.5%pa simple interest

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akankshasaini16 akankshasaini16

22-02-2018
Mathematics

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how ling it will take for an investment of 1950to accumulate to 2129.55at 6.5%pa simple interest

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jdoe0001 jdoe0001 · Answer 1 · 2018-02-22T02:16:59+01:00

[tex]\bf ~~~~~~ \textit{Simple Interest Earned Amount}\\\\ A=P(1+rt)\qquad \begin{cases} A=\textit{accumulated amount}\to &2129.55\\ P=\textit{original amount deposited}\to& \$1950\\ r=rate\to 6.5\%\to \frac{6.5}{100}\to &0.065\\ t=years \end{cases} \\\\\\ 2129.55=1950(1+0.065t)\implies \cfrac{2129.55}{1950}=1+0.065t \\\\\\ \cfrac{2129.55}{1950}-1=0.065t\implies \cfrac{\frac{2129.55}{1950}-1}{0.065}=t[/tex]