document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=1208307>Question 1208307</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Suppose you have $1350 in your savings account at the end of a certain period of time. You invested $1200 at a 2.22% simple annual interest rate. How long, in years, was your money invested? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #846640 by </B><A HREF=/tutors/aboutme.mpl?userid=math_tutor2020><B>math_tutor2020(3816)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=math_tutor2020><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=846640\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> <font color=black size=3><BR>\n" );
document.write( "A = P*(1+r*t)<BR>\n" );
document.write( "1350 = 1200*(1+0.022*t)<BR>\n" );
document.write( "1+0.022*t = 1350/1200<BR>\n" );
document.write( "1+0.022*t = 1.125<BR>\n" );
document.write( "0.022*t = 1.125-1<BR>\n" );
document.write( "0.022*t = 0.125<BR>\n" );
document.write( "t = 0.125/0.022<BR>\n" );
document.write( "t = 5.681818181818... where the \"18\" repeats forever.<BR>\n" );
document.write( "It takes about 5.6818 years depending how you round this decimal value.<BR>\n" );
document.write( "If rounding to the nearest whole year, then it would be 6 years.\r<BR>\n" );
document.write( "<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "Extra info:<BR>\n" );
document.write( "5.6818 years = 5 years + 0.6818 years<BR>\n" );
document.write( "5.6818 years = 5 years + (0.6818*12) months<BR>\n" );
document.write( "5.6818 years = 5 years + 8.1816 months<BR>\n" );
document.write( "</font> </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );