Simple interest: find the time
Use interest = principal × rate × time, with the rate as a percent per year.
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$600 at 5% simple interest per year earns $90. For how many years was it invested?
Answer: 3
$400 at 2% simple interest per year earns $16. For how many years was it invested?
Answer: 2
$1000 at 2% simple interest per year earns $20. For how many years was it invested?
Answer: 1
Tip: Use interest = principal × rate × time, with the rate as a percent per year.
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