To calculate the number of years, we can use the formula for simple interest which is I = PRT, where I is the interest, P is the principal amount, R is the rate of interest, and T is the time in years.

In this case, we know that:
I = $4,353.75
P = $12,900
R = 6.75% = 0.0675 (in decimal form)

We need to find T. So, we rearrange the formula to solve for T:

T = I / (P * R)

Substituting the given values:

T = $4,353.75 / ($12,900 * 0.0675)

Now, calculate the value of T:

T = $4,353.75 / $870.75

T = 5 years

So, the principal was invested for 5 years.

Question

To calculate the number of years, we can use the formula for simple interest which is I = PRT, where I is the interest, P is the principal amount, R is the rate of interest, and T is the time in years.

In this case, we know that:
I = $4,353.75
P = $12,900
R = 6.75% = 0.0675 (in decimal form)

We need to find T. So, we rearrange the formula to solve for T:

T = I / (P * R)

Substituting the given values:

T = $4,353.75 / ($12,900 * 0.0675)

Now, calculate the value of T:

T = $4,353.75 / $870.75

T = 5 years

So, the principal was invested for 5 years.

Knowee AI · Accepted Answer

To calculate the number of years, we can use the formula for simple interest which is I = PRT, where I is the interest, P is the principal amount, R is the rate of interest, and T is the time in years.

In this case, we know that:
I = $4,353.75
P = $12,900
R = 6.75% = 0.0675 (in decimal form)

We need to find T. So, we rearrange the formula to solve for T:

T = I / (P * R)

Substituting the given values:

T = $4,353.75 / ($12,900 * 0.0675)

Now, calculate the value of T:

T = $4,353.75 / $870.75

T = 5 years

So, the principal was invested for 5 years.

$4 353.75 simple interest was collected when $12900 was invested at 6.75% per annum.Calculate the number of years for which the principal was invested

Question

Calculate the number of years for which the principal was invested

Solution

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