jalisse12prince jalisse12prince

03-03-2018
Mathematics

contestada

If I put 1500 into my savings account and earned $180.00 of interest at 4% simple interest, how long was my money in the bank?

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jaclouisces jaclouisces

03-03-2018

4% of $1500 is 0.04 x 1500
= 60

So basically each month, $60 interest is saved

180 ÷ 60 is 3, so the money was in the bank for 3 months.

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