Register

Jerome deposited $8,000 into a new retirement account with a simple interest rate of 2.8%. If account has earned $3,808 in interest, and there have been no deposits or withdraws…

Jerome deposited $8,000 into a new retirement account with a simple interest rate of 2.8%. If account has earned $3,808 in interest, and there have been no deposits or withdraws…
228k views
2 votes
Jerome deposited $8,000 into a new retirement account with a simple interest rate of 2.8%. If account has earned $3,808 in interest, and there have been no deposits or withdraws, how many years ago did he open the account?

User Pahnev
by
8.3k points

1 Answer

3 votes

Answer:

17 years

Explanation:

8,000*.028=224

3,808/224= 17

User Soren Johnson
by
8.2k points
← Prev Question Next Question →

Related questions

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Link Copied!