Tony invests $\$3,000$ dollars in an account earning 12% interest per year. How long will it takehim to make $\$3960$ dollars in simple interest? 3 years 5 years 8 years 11 years
Tony invests $3,000 dollars in an account earning 12% interest per year.
How long will it take him to make $3,960 dollars in simple interest?
3000 • 1.12n = 3960
3000 • 1.122.45 = 3960.09
so it will take 2.45 years, aka 2 years, 5 months, & 12 days
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