You deposit $800 in an account that earns simple interest at an annual rate of 59. How long must you leave the money in the acco
unt to earn $100 in interest?
1 answer:
Answer:
2.5 years
Step-by-step explanation:
convert percent to a decimal --> 5% = .05
y = number of years
$100 = 0.05y ($800)
100/800 = 0.05y
0.125 = 0.05y
2.5 = y
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