Calculate the time necessary to achieve an investment goal. Give your answer to the nearest day. Use a 365-day year. (First enter the total number of full years, then give the remaining days.) $1,000 at 8% simple interest; deposit $650 _______years, ___________days

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter10: Sequences, Series, And Probability
Section10.3: Geometric Sequences
Problem 80E
icon
Related questions
Question

Calculate the time necessary to achieve an investment goal. Give your answer to the nearest day. Use a 365-day year. (First enter the total number of full years, then give the remaining days.)

$1,000 at 8% simple interest; deposit $650

_______years, ___________days

Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 3 steps with 3 images

Blurred answer
Knowledge Booster
Transcendental Expression
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, algebra and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
Algebra and Trigonometry (MindTap Course List)
Algebra and Trigonometry (MindTap Course List)
Algebra
ISBN:
9781305071742
Author:
James Stewart, Lothar Redlin, Saleem Watson
Publisher:
Cengage Learning