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OpenStudy (anonymous):
James opened a money-market account that paid 5% simple interest yearly. He started the account with $7,000 and made no further deposits. When he closed the account, he had earned $1,750 in interest. How long did he keep his account open?
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OpenStudy (anonymous):
i =PRT T=i/PR T= 1750/(7000*0.05) = 5 years
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