My problem is that I need to find the decimal in years and I tried everything. See the principle is $500,the rate is 4.5%, the time is unkown and is what I need to find out, and last but not least the interest earned is $112.50
I will assume simple interesest
I=Prt
112.50=500*0.045*t
divide both sides by (500*0.045)
112.50/ (500*0.045) = t
you can finish it now JohnJohn :)