Your deposit 1500 in an account that earns simple interest at an annual rate of 3%. how long must you leave the money in the account to earn $900 in interest?

20 years

Step-by-step explanation:

The formula to calculate the simple interest is given by :-

, where P is the principal amount , r is the rate of interest ( in decimal) and t is time ( in years).                                              

Given : P= $1500   ; r= 3% =0.03   and  I=$900

To find : t

From the above formula , we have

Hence, you must leave the money in the account for 20 years to earn $900 in interest.

answer;

the correct answer

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the correct answer is the second option