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Can you find the amount of time? You put $500 in a savings account with a simple interest rate of 3%. How long did it take you to earn $30 interest?
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Can you find the amount of time? You put $500 in a savings account with a simple interest rate of 3%. How long did it take you to earn $30 interest?

User Actine
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1 Answer

3 votes
500(.03)(x)=30
15(x)=30
/15. /15
x=2

It took 2 years
User Anjuman
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5.6k points
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