SOLUTION: (I have absolutely no idea how to even begin with this problem) Geneva wants to save $12,000 to buy a new car. She just received an $8,000 bonus and plans to invest it in an

Question 1075373: (I have absolutely no idea how to even begin with this problem)

Geneva wants to save $12,000 to buy a new car. She just received an $8,000
bonus and plans to invest it in an account earning 7% annual simple interest. How
long will she need to leave her money in the account to accumulate the $12,000
she needs?
Answer by jorel1380(3719) (Show Source): You can put this solution on YOUR website!
12000/8000=1.5; or an interest rate of 50%
50/7=7.142857 years before she has enough money in the account. ☺☺☺☺
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