Use the Formula $i = P r t$ To Reach a Solution for the Following Problem

question 94

Short Answer

Use the formula $i = P r t$ to reach a solution for the following problem. How long (in years) will $8,250 need to be invested at a 12% annual interest rate to earn $3,960.00? __________ years

---

Definitions:

Infant Testing

Methods designed to evaluate developmental stages, cognitive abilities, and physical growth in babies and very young children.

Divergent Thinking

Thinking that produces many answers to the same question; characteristic of creativity.

Convergent Thinking

A cognitive process where a problem is solved by applying known rules and logic to narrow down to a single solution.

Novel

New or original, especially in relation to stories, inventions, or ideas not previously seen or experienced.