Asked by lizzy

The equation I=Prt gives the amount of interest a bank account receives after a certain period. An individual invests $6,000 into an account that receives 7% interest. How much time has passed if the amount of interest is $3,360?
Answered by Anonymous
3360 = 6,000 * 0.07 * t
so
t = 3360 / 420 = 8 years

pathetic, need compound interest account
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