SOLUTION: How many years does Steven need to invest his $3,000 at 7% to earn $210 in simple interest?

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Question 198066: How many years does Steven need to invest his $3,000 at 7% to earn $210 in simple interest?

Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
How many years does Steven need to invest his $3,000 at 7% to earn $210 in simple interest?
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Interest = Principal*Rate*time
210 = 3000*0.07*time
time = 210/[3000*0.07]
time = 1 year
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Cheers,
Stan H.