Question

You put $3000 in a CD (certificate of deposit) at the promotional rate of 5.6% simple interest. How long will it take to earn $336 in interest?

Answer 1

2 years

Explanation:

because then you do 336/186n=2

Answer 2

2 years

Explanation:

First take 5.6 percent of 3000. Which is 5.6/100×3000= 168.

So 336 divided by 168 is 2.