SOLUTION: a man deposited $5,000 in a bank paying 6% simple interest. how long will the money have to be left on deposited to earn 6,000 in interest?
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Question 408043: a man deposited $5,000 in a bank paying 6% simple interest. how long will the money have to be left on deposited to earn 6,000 in interest?
Answer by rfer(16322) (Show Source): You can put this solution on YOUR website!
I=Prt
6000=5000*0.06*t
6000=300t
t=6000/300
t=20 yrs
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