This is regular 7th grade math could you please help?
You deposit $3000 in a CD (certificate of deposit) that earns 5.6% simple annual interest. How long will it take to earn $336 in interest?
Answers
Answered by
1
per year intrest = 5.6% of $3000 = 168$
in two years u will earn =355.51$
per month =Approxx $14
so it takes 1 year 11months to reach near abt $341
autumnr35:
that incorrect
Answered by
0
Answer:
2
Step-by-step explanation:
You put $3000 in a CD (certificate of deposit) at the promotional rate of 5.6% simple interest. How long will it take to earn $336 in interest?
5.6% of 30000 is 168 so
168+168=336
therefore it will actually take 2 full years
Similar questions