mjfanblessed2009 mjfanblessed2009

12-05-2020
Mathematics

contestada

How many years will it take a principal of $400 to generate simple interest of $112 at a rate of 14% per annum?

Respuesta :

shotziraymond16 shotziraymond16

12-05-2020

Answer:

Principle = $400

Simple Interest = $112

Rate of interest = 14%

Amount =$512

S.I =P*T*R/100

112=400*T*14/100

112=4*14*T

112/56=T

T =2

T = 2 years

Step-by-step explanation:

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AnonymousZX AnonymousZX

12-05-2020

Answer:

Step-by-step explanation:

Simple interest means the increment is constant. 112 * .14 = 15.68

How much do we need to increase by ?

400-112= 288

288/15.68 approx 18.4. Since we can't have .4 of a year, it is 19 years.

Answer Link

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