Get personalized answers to your specific questions with IDNLearn.com. Discover in-depth and reliable answers to all your questions from our knowledgeable community members who are always ready to assist.

Derrick deposited $700 in a savings account that pays 2.5% simple interest on a quarterly basis. After the initial deposit, he did not make any deposits and withdrawals. How many years ago did he invest the money if his current balance on the account is $980?
1
2
4
8
16