1. The problem is to find the time $t$ in the simple interest formula $$A = P(1 + rt)$$ given $A = 2867.30$, $P = 1234.10$, and $r = 0.66\% = 0.0066$.
2. Substitute the known values into the formula:
$$2867.30 = 1234.10(1 + 0.0066t)$$
3. Divide both sides by 1234.10 to isolate the term with $t$:
$$\frac{2867.30}{1234.10} = 1 + 0.0066t$$
Calculate the left side:
$$2.322 = 1 + 0.0066t$$
4. Subtract 1 from both sides:
$$2.322 - 1 = 0.0066t$$
$$1.322 = 0.0066t$$
5. Solve for $t$ by dividing both sides by 0.0066:
$$t = \frac{1.322}{0.0066}$$
Calculate the division:
$$t \approx 200.30$$
6. The time $t$ is approximately 200.30 years.
Final answer: $$t \approx 200.30$$ years.
Simple Interest Time
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