Avery invested $6000 in a simple interest bearing account at a yearly rate of 3% . he earned $900 interest. for how many years w
as the money invested ?
a) 4
B)5
c)8
d)10
1 answer:
Answer:
B) 5
Step-by-step explanation:
$6000 × 0.03 = $180 - this means that every year, $180 is added to the invested amount.
We can now do $900 ÷ $180 to find out the number of years the money was invested for: $900 ÷ $180 = 5
The money was invested for 5 years
Hope this helps!
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