How many days will it take for a sum of $7,000 to earn $280 interest if it is deposited in a bank paying ordinary simple interest at the rate of 5%/year? (Use a 365-day year.)
A) It will take 472 days for a sum of $7,000 to earn $280.
B) It will take 242 days for a sum of $7,000 to earn $280.
C) It will take 292 days for a sum of $7,000 to earn $280.
D) It will take 272 days for a sum of $7,000 to earn $280.

Question

How many days will it take for a sum of $7,000 to earn $280 interest if it is deposited in a bank paying ordinary simple interest at the rate of 5%/year? (Use a 365-day year.) ​
A) It will take 472 days for a sum of $7,000 to earn $280.
B) It will take 242 days for a sum of $7,000 to earn $280.
C) It will take 292 days for a sum of $7,000 to earn $280.
D) It will take 272 days for a sum of $7,000 to earn $280.

Quizplus · Accepted Answer

The Answer of How many days will it take for a sum of $7,000 to earn $280 interest if it is deposited in a bank paying ordinary simple interest at the rate of 5%/year? (Use a 365-day year.) ​
A) It will take 472 days for a sum of $7,000 to earn $280.
B) It will take 242 days for a sum of $7,000 to earn $280.
C) It will take 292 days for a sum of $7,000 to earn $280.
D) It will take 272 days for a sum of $7,000 to earn $280.

How Many Days Will It Take for a Sum of $7,000