[tex]\bf ~~~~~~ \textit{Simple Interest Earned}\\\\
I = Prt\qquad
\begin{cases}
I=\textit{interest earned}\to &\$196\\
P=\textit{original amount deposited}\to& \$700\\
r=rate\to 4\%\to \frac{4}{100}\to &0.04\\
t=years
\end{cases}
\\\\\\
196=(700)(0.04)t\implies \cfrac{196}{(700)(0.04)}=t[/tex]
