Question

Peter's simple annual interest account currently has $1128.50. He remembers that he originally placed $925 at a rate of 5.5%. How many years ago did Peter place money into his account?

Answer 1

Answer:

h

Step-by-step explanation:

Answer 2

x = the number of years

1128.50 = 925 + 5.5x

1128.50 - 925 = 925 + 5.5x - 925 (subtraction property of equality)

203.5 = 5.5x

203.5/5.5 = 5.5x/5.5

x = 37 years ago