Bonita deposited $1300 into a bank account that earned 5.75% simple interest each year. She earned $299 in interest before closi
ng the account.
If no money was deposited into or withdrawn from the account, for how many years was the money in the account?
Round your answer to the nearest whole year.
2 answers:
After 4 years, the account gains $325.8, so 4 years
Answer
Find out the how many years was the money in the account .
To prove
Formula

As given
Bonita deposited $1300 into a bank account that earned 5.75% simple interest each year.
She earned $299 in interest before closing the account.
Principle = $1300
Rate = 5.75%
Simple interest = $299
Put all the value in the formula



Time = 4 years
Therefore the 4 years was the money in the account .
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