Question

Samantha deposits $5,000.00 in account that earns 5.5% simple interest. About how many years will it take for her account balance to earn $3,000.00 in interest?

Answer 1

A. About 2 years
B. About 5 years
C. About 11 years
D. About 20 years

Answer 2

let y years be the period of time she'll have her balance to earn $3000
(5000x5.5%)y=3000
.
.
.
y=11(C)

Answer 3

Thank you I was confused @kc_kennylau and @sumthenoob

Answer 4

youre welcome :)

Answer 5

@bluebirdyy lol I provided the wrong formula :/