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Solomon invested money in his bank account. He had a principal, P,
of $100 in his account at the beginning of the period, which
increased at a rate, r, of 0.15 per year. At the end of the period, he
had interest, I, of $135 in his account. Use the simple interest
formula 1 Prt, to solve for the time, t, in months that it took to
earn this amount. (1 point)
h
O 9 months
O 108 months
O 233 months
900 months

Respuesta :

The total time required in months is 108 months.

What is simple interest?

Simple interest is defined as the amount of interest paid on a specific principal, an amount at a specific interest rate. It is given by

I = Prt

where, I = simple interest, P = Principal, r = rate of interest, t = time taken

Given, P = $100

I = $135

r = 0.15

t = ?

So, simple interest is given by:

I = Prt

or, 135 = 100*0.15*t

or, 135 = 15*t

or, t = (135/15) = 9 years = 9*12 = 108 months

Hence, the total time required in months is 108 months.

To learn more about simple interest

https://brainly.com/question/25793394

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