Salina currently has an account balance of $1,047.69. Her initial deposit on the account was $630 and it earned 3.9% simple inte rest. How long has Salina held the account? A - 17 years
B - 26 years
C - 10 years
D - 43 years
1 answer:
Answer:
A. 17 years
Step-by-step explanation:
Use the simple interest equation, I = prt, where I is the interest money gained, p is the starting amount of money, r is the interest rate in decimal form, and t is the time in years.
Plug in the values to solve for t:
417.69 = (630)(0.039)(t)
417.69 = 24.57t
17 = t
= 17 years
So, the correct answer is A, 17 years
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