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Find the time for P 2000 to gain P 450 at a 5% interest rate.

Sagot :

Mlcparra16idn
[tex]Interest=Principal*Rate*Time \\ 450=2000*0.05*Time \\ 450=100*Time \\ \frac{450}{100} =Time \\ 4.5=Time[/tex]

Therefore the time needed is 4 and a half years.
Ihavenonameidn
solution :

principal = P 2 000
rate = 5%
interest = P 450

to solve for the time use this formula :

[tex]time = \frac{interest}{(principal)(rate)} [/tex]

[tex]time = \frac{P 450}{(P 2 000)(0.05)}[/tex]

[tex]time = \frac{P 450}{(100)}[/tex]

[tex]time = 4.5 or 4 \frac{1}{2} [/tex]