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5 August, 14:13

Jenny's parents deposit $15,000 for her college tuition in an account with a 3% simple interest rate. How long will it take to earn $3600 in interest?

5 years

8 years

10 years

12 years

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Answers (1)
  1. 5 August, 14:20
    0
    3% = 0.03

    $15,000 *.03 = $450

    $450 * 8 = $3,600

    answer: 8 years
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