If I put $1500 into my savings account in earned $180 of an interest at 4% simple interest how long was my money in the bank

Question

Natalya Carrillo

Mathematics

22 July, 03:57

If I put $1500 into my savings account in earned $180 of an interest at 4% simple interest how long was my money in the bank

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Sam Hicks · Answer 1

Okay. There is $1,500 in your savings account and your annual interest is 4%. 1,500 * 4% (0.04) is 60. You earn $60 in interest each year. You earn $180 in interest total. 180/60 is 3. There. Your money has been in the bank for 3 years.