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How long would you need to keep $775 in an account that pays 3% simple interest to earn $93 interest?
What is your question about nims 700? Please be more specific.(smile)
jeo007|Points 201|
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Asked 3/16/2014 1:34:34 PM
Updated 3/16/2014 2:15:28 PM
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$775 in an account that pays 3% simple interest to earn $93 interest
Would need to be kept for 4 years.
I=Prt
93=775*.03*t
93=23.25*t
t=93/23.25
t=4
Added 3/16/2014 2:15:28 PM
This answer has been confirmed as correct and helpful.
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