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OpenStudy (faman39):
Your grandmother deposits $500 into a savings account for you to access when you get older. The account carries a 4% simple annual interest rate. If you want to let the balance grow until it is worth $700 , how many years must you wait?
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OpenStudy (anonymous):
the answer is E
OpenStudy (anonymous):
700 = 500 + I -> I = $200 -> 200 = 500 * 4% * t => 200 = 20 t => t = 10 yrs
OpenStudy (anonymous):
@Faman39 My pleasure :)
OpenStudy (faman39):
not this one . let me take there where i need help.
OpenStudy (bahrom7893):
ok
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OpenStudy (saifoo.khan):
@Faman39
OpenStudy (anonymous):
what d u mean the answer is E?
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