SOLUTION: (I have absolutely no idea how to even begin with this problem)
Geneva wants to save $12,000 to buy a new car. She just received an $8,000
bonus and plans to invest it in an
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-> SOLUTION: (I have absolutely no idea how to even begin with this problem)
Geneva wants to save $12,000 to buy a new car. She just received an $8,000
bonus and plans to invest it in an
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Question 1075373: (I have absolutely no idea how to even begin with this problem)
Geneva wants to save $12,000 to buy a new car. She just received an $8,000
bonus and plans to invest it in an account earning 7% annual simple interest. How
long will she need to leave her money in the account to accumulate the $12,000
she needs? Answer by jorel1380(3719) (Show Source):
You can put this solution on YOUR website! 12000/8000=1.5; or an interest rate of 50%
50/7=7.142857 years before she has enough money in the account. ☺☺☺☺
