Answer:
2 years
Step-by-step explanation:
Step one:
Given Information
Principal= $2600
rate = 4.5%
SImple interest = $234
Required
The time T of the investment
Step two:
the expression for simple interest is
[tex]SI= PRT/100[/tex]
substitute
[tex]234= 2600*4.5*T/100[/tex]
cross multiply we have
[tex]234*100= 2600*4.5*T\\\\23400= 11700T\\\\[/tex]
divide both sides by 11700
[tex]23400/11700= T\\\\T= 2 years[/tex]
