document.write( "Question 1181745: Suppose you have $2500 in your savings account at the end of a certain period of time. You invested $1700 at 6.75% simple annual interest rate. How long in years was your money invested? (State your result to the nearest hundredth of a year.) \n" ); document.write( "

Algebra.Com's Answer #811647 by ikleyn(52781) $\"\"$ $\"About$

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\n" ); document.write( "\n" ); document.write( " John misread the problem.\r
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document.write( "We have simple interest rate, so our equation is\r\n" );
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document.write( "    2500 = 1700*(1 + 0.0675*t).\r\n" );
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document.write( "From the equation,\r\n" );
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document.write( "    t =  = 6.972 years = 7 years (rounded).    ANSWER\r\n" );
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