Question

A savings account with a balance of $800 earns simple interest at 5% per year. How long will it take the account to earn $240 in interest?

A. 5 years
B. 6 years
C. 40 years
D. 52 years

Pick one multiple choice

Answer 1

What do you think it is ?

Answer 2

I think its 6 years?

Answer 3

and why do you think it is 6 years

Answer 4

Because I did $800 x 0.05 x all the multiple choice and when I did 6 I got $240 in interest

Answer 5

There you go I did the same thing :)

Answer 6

Yes :)

Answer 7

Your answer is 6 years

Answer 8

The* answer rather.

Answer 9

Thanks! :D

Answer 10

you're welcome!