William deposited $7500 into an account that accumulated simple interest at a rate of 2.5% a year. At this rate, how long would it take for

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William deposited $7500 into an account that accumulated simple interest at a rate of 2.5% a year. At this rate, how long would it take for the account to reach $10,312.50?

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Nguyệt Ánh 3 days 2021-07-22T20:50:28+00:00 1 Answers 2 views 0

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    2021-07-22T20:51:42+00:00

    Answer:

    15 years

    Step-by-step explanation:

    $10,312.50-$7500 = $2,812.50 in interest we need over time

    7500 x 2.5= $187.50/year (interest)

    $2,812.50 / $187.50 = 15 years

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