Suppose you deposit $600 in a bank account with a simple interest rate of 2.5 %. You want to keep your deposit in the bank long enough to earn at least $120 in interest. How long should you keep your deposit in the bank? To earn at least $120 interest, you should keep your deposit in the bank for blank year (s). (Round up to the nearest year.)

Question

Raina Parsons

Mathematics

14 July, 03:28

Suppose you deposit $600 in a bank account with a simple interest rate of 2.5 %. You want to keep your deposit in the bank long enough to earn at least $120 in interest. How long should you keep your deposit in the bank? To earn at least $120 interest, you should keep your deposit in the bank for blank year (s). (Round up to the nearest year.)

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Mariyah Bowers · Answer 1

7 years because when you do the math, multiplying 600 by. 025, get an answer and then keep multiplying it until you get the $120 in interest, it is 7 something years, be it is closer to 7 years than to 8.