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

Question 121

Multiple Choice

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.

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