Question

If Ambrea deposits $4000 in the bank and there is a 3% interest rate, how long will it take her to save $7000

Answer 1

25 years

Explanation:

So you have $4000, with a rate of 3% interest.

You want to see how long it takes to save up to $7000.

Do,

3% of $4000 is $120.

It takes a year to get a interest.

And you need $3000 dollars.

Now do 3000 ÷ 120.

You get 25.

Answer 2

I believe the answer is 25 years

Explanation:

3% of 4000 is 120

3000 divided by 120 is 25