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Sam opened a money-market account that pays 2% 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?
 Mar 13, 2014
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brosforlife:

Sam opened a money-market account that pays 2% 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?



2% per day? week? month? year?
 Mar 13, 2014

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