Question #5257c

1 Answer
EZ as pi
Nov 9, 2016

Time is 6 years.

Explanation:

The formula to calculate Simple interest is:

#SI = (PRT)/100#

In simple interest, the interest is calculated ONLY on the original amount invested. The interest is #$5,400#

#SI = (20000xx4.5xx color(blue)(T))/100 = 5400#

#T = (5400 xx100)/(20000xx4.5)#

#T = 6" "#years

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