gracieharmeyer gracieharmeyer

28-10-2017
Mathematics

contestada

If I put $1500 into my savings account in earned $180 of an interest at 4% simple interest how long was my money in the bank

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cedarwood79 cedarwood79

28-10-2017

Okay. There is $1,500 in your savings account and your annual interest is 4%. 1,500 * 4% (0.04) is 60. You earn $60 in interest each year. You earn $180 in interest total. 180/60 is 3. There. Your money has been in the bank for 3 years.

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