Question

Jina opened a savings account with $600 and was paid simple interest at an annual rate of 3%. When Jina closed the account, she was paid $54 in interest. How long was the account open for, in years?

Answer 1

3 years

have $600

interest $54

annual rate 3%

600 - 3% = 582 that is the money she has in bank without interest

600-582 = 18

54÷ 18= 3 years

Answer 2

Answer: The account has been open for 3 years

Explanation:

3% of $600 is 18

18*3 = 54