Ask Question
8 December, 07:44

Jeffrey currently has an account balance of $1,565.00. His initial deposit on the account was $625 and it earned 4.7% simple interest. How long has Jeffrey held the account?

+4
Answers (1)
  1. 8 December, 08:12
    0
    A = P (1 + rt)

    1565 = 625 (1 + (0.047) (t))

    2.504 = 1 + 0.047t

    1.504 = 0.047t

    t = 32

    I hope this is correct! (Sorry I haven't done simple interest in a while.)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Jeffrey currently has an account balance of $1,565.00. His initial deposit on the account was $625 and it earned 4.7% simple interest. How ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers