mylittlemissy
Answered

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Oki received a statement on her Certificate of Deposit showing that her investment had returned $4,836 over its life. If the Certificate of Deposit pays a simple interest rate of 3.1% and her initial investment was $19,500, how long had the money been invested?

Sagot :

bullockjohnny15

Answer:

3.1% of 19,500= 604.50

4836 ÷ 604.50 = 8

8 years is the answer

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