2007-04-16 17:35:46 · 5 answers · asked by Pryncez 1 in Education & Reference ➔ Homework Help
3 months
2007-04-16 17:40:55 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I= PRT
135 = I
$6000 = P
R= 9%
135 = .09 * 6000 * T
135=540T
.25=T
So 1/4 of a Unit time (assuming Year)
2007-04-17 00:39:49 · answer #2 · answered by thewiseman2008 3 · 0⤊ 0⤋
$6000 @ 9% means that in one year it will earn $540.
Assuming it is simple interest (not interest on interest), then just figure out a proportion. 135/540 = x /12 months
so X = 12x135/540 = 3 months
2007-04-17 00:42:07 · answer #3 · answered by ignoramus 7 · 0⤊ 0⤋
Three months. $6,000.00 times .09 = 540.00
540.00 in 12 months, 270.00 in 6 months, 135.00 in three months.
2007-04-17 00:42:49 · answer #4 · answered by ersof59 4 · 0⤊ 0⤋
Was interest being paid at maturity? or compounded monthly?
2007-04-17 00:46:40 · answer #5 · answered by Anonymous · 0⤊ 0⤋