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Lauren is trying to save money to to go on a trip to Rome. She invests $1,200 into an account paying 4.5% simple interest. For how long must she save if the trip to Rome costs $1,500? A. 4 years B. 5 years C. 6 years D. 7 years

Respuesta :

mathecoach

Answer:

1200*(1 + 0.045*x) = 1500 --> x = 5.55 --> C. 6 years

Answer:

6 years

Step-by-step explanation:

if 1200 is the 100% the 4.5 of 1200 would be....

applying simple rule of three

100-----1200

4.5------x= 54  

$54 is the interest that the bank pays.

Lauren needs $1500 and she has $1200 so $300 is what she needs for her trip

(1500-1200=300)

if in 1 year the bank pays her $54 of interest how many years does she have to be saving to reach $300? ( $300 is the rest of the money that she needs to have $1500)

We apply simple rule of three

$54------- 1 year

$300-------x= 5.5 years

if we approximate the result is 6 years.

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