Question

You invest $425.00 in a money-market account that pays simple interest at a rate of 8%. How long must you leave your investment in the money-market account if you expect to earn $68.00 in interest?
a. 2 years
b. 4 years
c. 0.02 months
d. 2 months

Answer 1

@sky577 @austinjesse

Answer 2

is the intrest rate anually or monthly?

Answer 3

so whats the answer @austinjesse

Answer 4

i would go with b 4 years

Answer 5

Its either 2 years or two months, It doesnt say anually or monthly

Answer 6

its defiantly 2 something lol

Answer 7

true if you think about it that way then

Answer 8

2 years since it says simple interest rate

Answer 9

Id put my money on 2 years

Answer 10

yess it is 2 years @austinjesse

Answer 11

yea thats it just reseach it

Answer 12

lol

Answer 13

you should give me a medal @sky577 :)

Answer 14

i did

Answer 15

Thanks :)

Answer 16

no more questions @kendellbae_

Answer 17

ur welcome

Answer 18

youuu telling me or youu asking me @austinjesse

Answer 19

lol just asking

Answer 20

gtg

Answer 21

Ahmad borrowed $3,000 from the bank to buy a used car. He has to pay 8% simple interest on the loan. If Ahmad repays the loan in 3 years, how much interest will he pay? Explain.

Answer 22

@austinjesse @sky577

Answer 23

use the formula i=prt. principle is 3000, rate is 8% and time is 3 years. therefore i=3000(0.08)(3)= $720