Ivy invested $150 000 in a savings account that offers to pay simple interest of 0.2% per year. How much interest will she recei

Question

2 years ago

10

ve at the end of one year?

1 answer:

kvv77 [185] · Answer 1 · 2023-03-09T02:36:55+03:00

8 0

Answer:

The answer is the CD was for 3 years.

Step-by-step explanation:

First, write the equation.

I=Prt

Next, substitute the given values.

$198=$1,200×5.5%×t

Next, write the percent as a decimal.

$198=$1,200×0.055×t

Next, simplify.

$198=$66×t

Then, solve for t.

3=t