Question

joe flynn visited his local bank to see how long it will take for $1200 to amount to $2100 at a simple interest rate of 7%. how long will it take?

Answer 1

So what happens to the interest after 1 year?

Answer 2

no, how many years will it take joe to get to 2100 in his account?

Answer 3

Yes, I know.
What I am asking is it simple interest for 7 years, no compounding at all?

Answer 4

Well, if there is no compounding, it seems quite simple.
7% is $84 a year

Answer 5

? at 7% interest how long will it takee for 1200 to get to 2100?

Answer 6

As I said above, no compounding, he will get $84 a year...

Answer 7

you understand?

Answer 8

thank you

Answer 9

your welcome.