SOLUTION: Theron wants to save $5,000. If he has $4,000 and invests it at 5% simple interest, how long will it take him to obtain $5,000?
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Question 605820: Theron wants to save $5,000. If he has $4,000 and invests it at 5% simple interest, how long will it take him to obtain $5,000?
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
The simple interest formula is:
where = amount after years
It will take 5 years
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