To find the time (in years) it takes to earn a simple interest, you can use the formula:
Simple Interest = P * R * T
Where:
- P is the principal amount (initial investment),
- R is the annual interest rate (in decimal form),
- T is the time in years.
In your case:
19,200 = 25600 * 0.125 * T
Now, solve for T:
T = 19,200/25,600 * 0.125
Calculate this to find the time (in years):
