Answer:
about 58 years 6 months
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 7.25%/100 = 0.0725 per year,
then, solving our equation
t = 10600 / ( 2500 × 0.0725 ) = 58.4828
t = 58.4828 years
The time required to
accumulate simple interest of $ 10,600.00
from a principal of $ 2,500.00
at an interest rate of 7.25% per year
is 58.4828 years (about 58 years 6 months).
