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alexira [117]
3 years ago
5

Sam opens a money-market account that pays 4% simple interest. He started with 7,000 and made no further deposits. He closed the

account and he had earned 1,400. How long did he have the account
Mathematics
1 answer:
marissa [1.9K]3 years ago
8 0
I = PRT

1,400 = 7,000 (.04) (T)

1,400 = 280T

1,400/280 = 280T/280
T = 5

Answer: He had the account 5 years
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