How do you find the amount of time given I=$54, P=$800, r=4.5%?

Answer 1

#1 7/9# years

Words used in question indicate that when a principal amount #P#, is invested for a time of #t# years at a rate of #r#, the interest earned is #I#.

In such cases as #I=(P×r×t)/100#, we can have #t=(I×100)/(P×r)#.

As we have to calculate time #t# given #I=$64#, #P=$800# and #r=4.5%#,

#t=(64×100)/(800×4.5)#

= #(64×cancel100^1)/(cancel800^8×4.5)#

= #64/(8×4.5)#

= #64/36# (and dividing by #4#)

= #(16cancel64)/(9cancel36)#

= #16/9=1 7/9# years.

By signing up, you agree to our Terms of Service and Privacy Policy

Answer 2

Jameson Allen

To find the amount of time (T), you can use the formula:

[T = \frac{I}{P \times r}]

Substitute the given values:

[T = \frac{54}{800 \times 0.045}]

[T ≈ 3.0] years

By signing up, you agree to our Terms of Service and Privacy Policy

Answer from HIX Tutor

When evaluating a one-sided limit, you need to be careful when a quantity is approaching zero since its sign is different depending on which way it is approaching zero from. Let us look at some examples.