Suppose you deposit $600 in a bank account with a simple interest rate of 2.5%. You want to keep your deposit in the bank long enough to earn at least $120 in interest. How long should you keep your deposit in the bank? To earn at least $120 interest, you should keep your deposit in the bank for blank year(s). (Round up to the nearest year.)
7 years because when you do the math, multiplying 600 by .025, get an answer and then keep multiplying it until you get the $120 in interest, it is 7 something years, be it is closer to 7 years than to 8.
