This is regular 7th grade math could you please help?
You deposit $3000 in a CD (certificate of deposit) that earns 5.6% simple annual interest. How long will it take to earn $336 in interest?
You deposit $3000 in a CD (certificate of deposit) that earns 5.6% simple annual interest. How long will it take to earn $336 in interest?
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per year intrest = 5.6% of $3000 = 168$
in two years u will earn =355.51$
per month =Approxx $14
so it takes 1 year 11months to reach near abt $341