Question

DeShawn deposited $6500 into a bank account that earned 11.5% simple interest each year. He earned $4485 in interest before closing the account.

No money was deposited into or withdrawn from the account.

How many years was the money in the account?

Round your answer to the nearest whole year.

Answer 1

6 years

Explanation:

11.5% of 6500 is 747.5 and 747.5 times 6 equals 4485

Answer 2

6 years

Explanation:

11.5% of 6500 is 747.5 and 747.5 times 6 equals 4485