712 years
10 years
5 years
12 years
14 years
Correct answer is B
A=P(1+R100)T
285.20=P(1+5100)3
285.20=P(1.05)3⟹1.16P=285.20
P=285.201.16=$245.86
Given Amount = $434.00
Interest = Amount - Principal
Interest = $434.00 - $245.86 = $188.14
T=100IPR
T=100×188.14245.86×7.5
T=188141843.95=10.2
Approximately 10 years.
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