chris wants to buy a scooter for $1150. he put $740 in the bank now at an interest rate of 10% per annum. in how many years will he be able to buy the scooter?
chris wants to buy a scooter for $1150. he put $740 in the bank now at an interest rate of 10% per annum. in how many years will he be able to buy the scooter?
Chris has to earn: 1150 - 740=$41o in interest
740 x 10% =$74.00 Interest that Chris earns in one year
410/74=5.54 years- when Chris will be able to buy the scooter.
