Question

You deposit $650 in a savings account. How long does it take an account

with an annual interest rate of 5% to earn $178.25 in interest?

Answer 1

About 5 years and 6 month!

Answer 2

about 5 years 6 months

Explanation:

I=Prt

t=I/(Pr)

5%=0.05

t = 178.25 / ( 650 × 0.05 ) = 5.4846

t = 5.4846 years

so about 5 years 6 months