Answer:
8 years.
Step-by-step explanation:
First, converting R percent to r a decimal
r = R/100 = 4.5%/100 = 0.045 per year,
then, solving our equation
t = 720 / ( 2000 × 0.045 ) = 8
t = 8 years
The time required to
accumulate simple interest of $ 720.00
from a principal of $ 2,000.00
at an interest rate of 4.5% per year
is 8 years.
