Answer:
5 years
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 6%/100 = 0.06 per year,
then, solving our equation
t = 102 / ( 340 × 0.06 ) = 5
t = 5 years
The time required to
accumulate simple interest of $ 102.00
from a principal of $ 340.00
at an interest rate of 6% per year
is 5 years.
