Question

If aisha deposits $2250 in a savings account that earns 3.5% annual simple interest, how long must she keep the money in the account for its total to reach $2722.50? Please show work. ​

Answer 1

The answer is 6 years because 3.5% of $2250 is 78.75 so you subtract 2722.50 by 2250 and you get 472.5. 472.5 divided by 78.75 is 6.