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You put $3000 in a CD (certificate of deposit) at the promotional rate of 5.6% simple interest. How long will it take to earn $336 in interest?

You put $3000 in a CD (certificate of deposit) at the promotional rate of 5.6% simple interest. How long will it take to earn $336 in interest?
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You put $3000 in a CD (certificate of deposit) at the promotional rate of 5.6% simple interest. How long will it take to earn $336 in interest?

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User Muzamil
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1 Answer

6 votes
First take 5.6 percent of 3000. Which is 5.6/100×3000= 168.
336 divided by 168 is 2.

The final answer is 2 years
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User Parohy
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