Question

Mona has an account with a balance of $738. She originally opened the account with a $500 deposit and a simple interest rate of 5.6%. If there were no deposits or withdrawals, how long ago was the account opened?

Answer 1

8.5 years

Answer 2

can u explain how u got it

Answer 3

p = 500
si = 738 - 500 = 238
r = 5.6
si = ptr/100
238 = 500*t*5.6/100
t=8.5

Answer 4

do you understand, still you have doubt

Answer 5

i understand thanks