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You deposit $200 in an account earning 3.5% simple interest how long will it take for the balance of the account to be $221

Respuesta :

cinderofsoulsss

Answer:

1.068 years

Step-by-step explanation:

Simple interest equation:

[tex]I=prt[/tex]

Plug in given values:

[tex]221=(200)(1.035)(t)[/tex]

Solve for t:

[tex]221=207t\\t=\frac{221}{207} \\t=1.068[/tex]

1.068 years

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