How long must $1,000 be invested at an annual interest rate of 3% to earn $300 in simple interest?

In this question, we have to find how long will it take  by investing  $1000, with interest rate of 3% and to get  $300  as interest.

And for that we have to use the simple interest formula, with P as the principal, r is the rate and t is the time. And the formula is

Substituting the values of P , r and t , we will get

Now we need to isolate t, and for that, we divide both sides by 30, that is

312312

step-by-step explanation:

answer:

it is general formula that is used to write value to its excet position

a11 a12 a13

a21 a22 a23

it is the example of order 2 by 3 matrix in this

a11 means value occur in 1 st row 1st column

a12 means value occurs in 1st row 2nd column

a13 means value occur in 1st row and 3rd column

a21 means value occurs in 2nd row and 1st column

a22 means value occurs in 2nd row and in 2nd column

a23 means value occurs in 2nd row and in 3rd column