Ask Experts Questions for FREE Help !
Ask
    kissme86's Avatar
    kissme86 Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Jan 24, 2012, 06:30 PM
    A bank offers an annual simple interest rate of 3%. How long will it take an account
    A bank offers an annual simple interest rate of 3%. How long will it take an account with a principal of $1,200 to earn $198 interest?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Jan 24, 2012, 07:14 PM
    Thank you for asking our help with your homework assignment. However, there are some rules we have for doing so.
    Do not simply retype or paste a question from your book or study material

    We won't do your homework questions for you. You were given the assignment for you to learn.

    If you come up with your own answer or process and post it for us to critique that is acceptable. If you have some SPECIFIC questions that you couldn't find or didn't understand, we may help with that.
    But this is your assignment, so show us you have at least attempted to complete it on your own.

    Thank you.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Taxes on bank account interest [ 1 Answers ]

Hi, I am a nonresident for federal tax purposes, although I have lived in the US for more than a year, because I have excluded the days that I was here under J1 (my current status is H1B). I have the following questions: 1. Do I have to report the interest I gained from my US bank account on...

How to calculate annual interest rate [ 6 Answers ]

Assume that a college education will cost $280,000 when your child enters college in 18 years. You currently have $39,000 saved. What annual rate of interest must you earn to cover the cost of the education?

Annual Rate Interest [ 4 Answers ]

What is the annual rate of interest you must earn on an investment to have $250,000 available in 12 years if you would like to allocate $20,000 today? :D

View more questions Search