Derek has a bank account that pays 2.1% simple interest. The balance is $910. When will the account grow to $1,000?
1 answer:
Answer:
The account will grow to 1,000 in 5 years.
Step-by-step explanation:
Since the account will become 1000, the interest is 90 dollars. I=p*r*t.
90=910*.021*t
90=19.11*t.
t=4.71, so it will take 5 whole years.
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