Several years ago, you opened a checking account with a $$3,000$ initial deposit. Since then, you have not written any check, withdrawn any cash or used your debit card. You have not deposited more money into the account either. Indeed, you have forgotten about the account until recently. Upon inquiry, the bank informed you that the current balance of the checking account is $$3,000.$ How many years has it been since you opened the account?

It cannot be determined because interest rate on the account is zero.

$3$ years

$1$ year

None of these are correct

It cannot be determined because we do not know the interest rate on the account.