Mathematics, 23.05.2020 19:00 wrivera32802

Sam opened a money-market account that pays 5% simple interest. He started the account with $7,000 and made no further deposits. When he closed the account, he had earned $700 in interest. How long did he keep his account open?
A.
2 years
B.
5 years
C.
4 years

Answers: 1

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Sam opened a money-market account that pays 5% simple interest. He started the account with $7,000 and made no further deposits. When he closed the account, he had earned $700 in interest. How long did he keep his account open? A. 2 years B. 5 years C. 4 years

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Sam opened a money-market account that pays 5% simple interest. He started the account with $7,000 and made no further deposits. When he closed the account, he had earned $700 in interest. How long did he keep his account open?
A.
2 years
B.
5 years
C.
4 years