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Zac invests 3500 at 8% per year simple interest, for a period of time, to produce 210 interest. For how long did he invest the money?

Solution

Zac invests 3500 at 8% per year simple interest, for a period of time, to produce 210 interest. For how long did he invest the money?

Solution

Time : \frac{3}{4}

Solution steps

Translate the problem into an equation:

210 = 3500 \cdot 0.08 t

Solve for

t, 210 = 3500 \cdot 0.08 t : t = \frac{3}{4}

Time : \frac{3}{4}

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