Question

suppose you deposit $600 in a bank account with a simple intrest rate of 2.5% you want to keep your deposit in the bank long enough to earn at least $120 in intrest how long should u keep your deposit in the bank

Answer 1

8 years

Explanation:

600 x 0.025 = 15

15 x 8 = 120

You should keep your deposit in the bank for 8 years to earn at least $120 in interest.