7 May, 16:30

# Find the length of time fo \$500 to be the interest on \$1800 at 6% p. a

+1
1. 7 May, 16:44
0
If it is simple interest,

500 = 1800 x 6/100 x t

500 = 108t

t = 4.63 years

If it is compound interest,

2300 = 1800 (1+6/100) ^t

t = 4.2067 years
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