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ANSWER ASAP FOR BRAINLEST!!!!!!!!!!!!!!!!!!!
In how many years will $12,000 yield an interest of $4,800 at 10% simple interest? *
A. 25 years
B. 0.04 year
C. 4 years
D. 0.25 years or 3 months

Respuesta :

facundobuzzetti

Answer:

Time= 4 years

Step-by-step explanation:

Giving the following information:

Principal (P)= $12,000

Interest rate (r)= 10% = 0.10

Interest earned (I)= $4,800

To calculate the time required to gain $4,800 interest, we need to use the following formula:

T= I / (P*r)

T= 4,800/(12,000*0.1)

T= 4 years