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2 years ago

9

Sam opened a money-market account that pays 2% simple interest. He started the account with 7000 dollars and made no further dep

osits. When he closed the account, he had earned 560 dollars in interest. How long did he keep his account open?

1 answer:

Effectus [21]2 years ago

4 0

Answer:

4 years

Step-by-step explanation:

560 = 7000 × 2/100 × t

t = 4

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