Samantha earned $700 this summer. if she deposits the money in a savings account, how many years will it take her to earn$196 in interest at a simple annual rate of 4%? A.6 B.7 C.8 D.9

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asked Jan 1, 2018 110k views

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Samantha earned $700 this summer. if she deposits the money in a savings account, how many years will it take her to earn$196 in interest at a simple annual rate of 4%?

A.6
B.7
C.8
D.9

Mathematics
high-school

Dnlkng asked

by Dnlkng

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2 Answers

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Answer: 7 years

Explanation:

Bert Jan Schrijver answered Jan 3, 2018

by Bert Jan Schrijver

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2 votes

Hi there

The formula is
T=I÷pr
T=196÷(700×0.04)
T=7 years

Hope it helps

Luke Hammer answered Jan 7, 2018

by Luke Hammer

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