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2 September, 17:14

Susan deposits $1,200 in an account that earns 8% simple interest annually.

In how many months will Susan's account balance reach $1,344? (Use the simple interest formula I=prt, where I = interest, p = principal or amount borrowed, r = rate, and t = time in years.)

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  1. 2 September, 17:40
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    Fourteen Months. So, a year and two months.

    This was a challenging question if you don't have a calculator (which I didn't use)
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