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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?
asked 141k views
1 vote
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?

asked
User Sooriya Dasanayake
by
8.0k points

2 Answers

4 votes

Answer:

2 years

Explanation:

because then you do 336/186n=2

answered
User Chris Edwards
by
8.5k points
2 votes

Answer:

2 years

Explanation:

First take 5.6 percent of 3000. Which is 5.6/100×3000= 168.

So 336 divided by 168 is 2.

answered
User Michael Veksler
by
8.6k points
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