Answer:
3 years
Solution,
Principal=$1200
Rate=3%=3/100=0.03
Interest=$108
Time=?
Now,
[tex]t = \frac{i}{p \times r} [/tex]
[tex] = \frac{108}{1200 \times 0.03} \\ = \frac{108}{36} \\ = 3 \: years[/tex]
Hope this helps...
Good luck on your assignment..
