Question

Derek has a bank account that pays 2.1% simple interest. The balance is $910. When will the account grow to $1,000?

Answer 1

Answer:

The account will grow to 1,000 in 5 years.

Step-by-step explanation:

Since the account will become 1000, the interest is 90 dollars. I=p*r*t.

90=910*.021*t

90=19.11*t.

t=4.71, so it will take 5 whole years.