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3 years ago

11

Sam opened a money-market account that pays 3% simple interest. He started the account with $7,000 and made no further deposits.

When he closed the account, he had earned $1,050 in interest. How long did he keep his account open?

1 answer:

Verizon [17]3 years ago

6 0

He hold account for 5 years or 5 months. Depending on 3% per year or 3% per month

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