Find the time (in days). Round to the nearest day.
-Principal: $2,019
Rate: 8.5%
Interest: $64.83
A)136 days
B)38 days
C)138 days
D)204 days

Question

Quizplus · Accepted Answer

To find the time, use the formula for simple interest: Interest = Principal × Rate × Time. Rearrange to find Time = Interest / (Principal × Rate). Plug in the values: Time = $64.83 / ($2,019 × 0.085) = 0.136 years. Convert to days: 0.136 × 365 ≈ 136 days.

Find the Time (In Days)