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3 years ago

14

Sam opened a money-market account that pays 5% simple interest. he started the account with $7,000 and made no further deposits.

when he closed the account, he had earned $1,400 in interest. how long did he keep his account open?

1 answer:

Eddi Din [679]3 years ago

7 0

Assuming he gets 5% annually then the answer is 4 years

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