Homework Help: Simple Interest

Posted by Marilyn on Monday, April 9, 2012 at 6:42pm.

The Johnsons have saved $45,000. They invest their money in a bank and thei account earns 7.5% interest. How many years will it take to earn $74,000?
*PLEASE PROVIDE AN EXPLANATION*

Simple Interest - harry, Monday, April 9, 2012 at 7:49pm
compound or simple intrest?

earn 74000 or get account from 45000 to 74000?

Answer this Question

Related Questions

math - A mother wants to invest $9,000.00 for her son’s future education. ...
Pre-Calculus - . Margaret is planning to invest up to $22,000 in ...
math - A mother wnats to invest $6,000 for her son's future education. She ...
math - I have been staring at this problem forever, and cant seem to dig it up ...
math - how much money would have to be invested in an account at 3.98% annual ...
6 grade algebra - cindy earns 6% simple interest each year on her savings ...
algebra 2 - how much money will betty need, to the nearest cent, to invest in a ...
Business Algebra - Invest $23,000 in a savings account at 4.25% interest ...
precal -checking answers - Suppose Joan has $5,000 to invest. The banks are ...
Math - a mother wants to invest 5000 for her sons future education. She invests ...

For Further Reading

First Name:
School Subject:
Answer: