SOLUTION: Kayleigh wants to buy a car that costs $17,360.00. She deposits $14,000.00 into a savings account that earns 8% simple interest. How long must Kayleigh leave the money in the savin
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Question 984384: Kayleigh wants to buy a car that costs $17,360.00. She deposits $14,000.00 into a savings account that earns 8% simple interest. How long must Kayleigh leave the money in the savings account to be able to buy the car?
Answer by solver91311(24713) (Show Source): You can put this solution on YOUR website!
Simple interest:
)
With your numbers:
)
You need to solve for 
. The answer is greater than 2 years, by which time the price of the car will have increased by $500-$1000, and she still won't be able to buy it.
John
My calculator said it, I believe it, that settles it
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