kaytlineharris kaytlineharris

04-02-2016
Mathematics

Answered

if i put 1500 into my savings account and earned 180.00 of interest at 4% simple interest, how long was my money in the bank

Verified Answer :

helencforrest helencforrest

04-02-2016

4% of $1500 is 0.04 x 1500
= 60

So each month, $60 interest is saved

180 ÷ 60 is 3, so therefore the money was in the bank for 3 months.

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