Question

Samantha earned $700 this summer. if she deposits the money in a savings account, how many years will it take her to earn$196 in interest at a simple annual rate of 4%?

A.6
B.7
C.8
D.9

Answer 1

Answer: 7 years

Explanation:

Answer 2

Hi there

The formula is
T=I÷pr
T=196÷(700×0.04)
T=7 years

Hope it helps