Question 1032549
 	Sara wants to buy a house and needs $35,560 for a down payment. She currently has $28,000 in a savings account that earns 9% simple interest. How long must Sara keep the money in the savings account in order to have enough for the down payment on the house?
<pre>SI = PTR
7,560 = 28,000 * T * .09
7,560 = 2,520T
T, or time = {{{highlight_green(matrix(1,4, "$7,560"/"2,520", or, 3, years))}}}
If the interest that’s earned each year is WITHDRAWN EVERY YEAR, right after being added to the account, then it’d be 3 years, since
at all times, only the $28,000 would be earning interest. Otherwise, it'd be COMPOUNDED, and time would be shorter, at 2.77 years. 

Who formulates these problems?