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How many years does steven need to invest his 3000 at 7 percent tp earn 210 in simple interest?
Wiki User
∙ 13y ago
Answer : 1 year
The formula for calculating simple interest is I = PRT/100, where I = Interest, P = Principal Amount, R = Rate of Interest, T = Time.
Then, 210 = 3000 x 7 x T/100 : 21000 = 21000T : Then T = 21000/21000 = 1
Wiki User
∙ 13y ago
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