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You deposit $200 in an account earning 3.5% simple interest. How many years will it take for the balance of the account to be $221

You deposit $200 in an account earning 3.5% simple interest. How many years will it take for the balance of the account to be $221
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You deposit $200 in an account earning 3.5% simple interest. How many years will it take for the balance of the account to be $221

User Destini
by
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1 Answer

5 votes
I = PRT

21 = 200 * 0.035 * T

21 = 7T

3 years = T
User Rakshakhegde
by
8.4k points
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