A principle of $20,000 is invested at $6.25 and earns $10,000 simple interest how long has the money been invested

Question

William Dorsey

Mathematics

4 February, 01:38

A principle of $20,000 is invested at $6.25 and earns $10,000 simple interest how long has the money been invested

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Answers (1)

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Brielle Calderon · Answer 1

1600

Step-by-step explanation:

Assuming $6.25 is the interest earned annually,

Let n be the no. of years

Then,

6.25 * n = 10000

n = 10000/6.25

n = 1600