document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=835793>Question 835793</A>: <I><SPAN STYLE=\"word-break: break-all;\"> how do I find if I deposit $1500 in a savings account that pays 6 percent annual interest how many years will it take to be $2500? I have 2500 = 1500(1+ .06)t how do I find t\r<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #503712 by </B><A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><B>jim_thompson5910(35256)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=jim_thompson5910><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=503712\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> If this is using simple interest (and not compound interest), then...\r<BR>\n" );
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document.write( "A = P(1 + rt)\r<BR>\n" );
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document.write( "2500 = 1500(1 + 0.06t)\r<BR>\n" );
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document.write( "2500/1500 = 1 + 0.06t\r<BR>\n" );
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document.write( "1.66666666666667 = 1 + 0.06t\r<BR>\n" );
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document.write( "1.66666666666667 - 1 = 0.06t\r<BR>\n" );
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document.write( "0.66666666666667 = 0.06t\r<BR>\n" );
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document.write( "0.06t = 0.66666666666667\r<BR>\n" );
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document.write( "t = 0.66666666666667/0.06\r<BR>\n" );
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document.write( "t = 11.1111111111111\r<BR>\n" );
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document.write( "t = 12 ... round up to the nearest year\r<BR>\n" );
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document.write( "So it will take <font color=\"red\">12 years</font> </SPAN>\n" );
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