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Sagot :
ANSWER:
3 years
STEP-BY-STEP EXPLANATION:
Given:
Principal (p) = 2000
Interest (I) = 480
Rate (r) = 8% = 0.08
We substitute it into the formula, like this:
[tex]\begin{gathered} t=\frac{I}{P\cdot r} \\ \\ \text{ We replacing:} \\ \\ t=\frac{480}{2000\cdot0.08}=\frac{480}{160} \\ \\ t=3 \end{gathered}[/tex]The time is 3 years
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