Answer: Time is 6years
Step-by-step explanation:
From the formula of simple interest,
Simple interest = Principal x rate x time
Therefore Time = (100 × Interest)/(Principal × Rate)
Slot in the values into the formula, given interest as $47.76, rate = 4%= 4/100 = 0.04, Principal= $199
Time= 47.76/0.04x $199
Time= 47.76/7.96
Time = 6years
I hope this helps.
