Investment: You put $505 into a certificate of deposit. Your simple annual interest rate is 4.2%. You receive a check for the interest at the end of each year. How many years will it take to earn $50 in interest? (Round your answer to 1 decimal place.) Number years

Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.7: Simple And Compound Interest
Problem 14E
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Investment: You put $505 into a certificate of deposit. Your simple annual interest rate is 4.2%. You receive a check for the interest at the end of each year.
How many years will it take to earn $50 in interest? (Round your answer to 1 decimal place.)
Number
years
Transcribed Image Text:Investment: You put $505 into a certificate of deposit. Your simple annual interest rate is 4.2%. You receive a check for the interest at the end of each year. How many years will it take to earn $50 in interest? (Round your answer to 1 decimal place.) Number years
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