Question

Lina invested $7,800 in a mutual fund at a simple interest rate of 4.35%. She earned $1,696.50 in interest. How long (in years) was the money invested?

Answer 1

Answer:

5 years.

Step-by-step explanation:

She earns $339.3 per year on interest rate. So I divided 1,696.50 by 339.3 to get the amount of ears.