10. Lawrence has just won $6,250 from the 50/50 at the Sea Dog's game and decides to invest all of it. If he makes $1,480 with a 6.5% interest rate, how long must he have had the money invested?
10. Lawrence has just won $6,250 from the 50/50 at the Sea Dog's game and decides to invest all of it. If he makes $1,480 with a 6.5% interest rate, how long must he have had the money invested?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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10.)
![10. Lawrence has just won $6,250 from the 50/50 at the Sea Dog's game and decides to invest
all of it. If he makes $1,480 with a 6.5% interest rate, how long must he have had the
money invested?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F290de205-3a43-4022-92fe-824c90e48879%2F6f4b4f45-66d2-4a94-8695-5b0a199ed6c4%2F8mmrir_processed.jpeg&w=3840&q=75)
Transcribed Image Text:10. Lawrence has just won $6,250 from the 50/50 at the Sea Dog's game and decides to invest
all of it. If he makes $1,480 with a 6.5% interest rate, how long must he have had the
money invested?
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