Suppose you have $1400 in your savings account at the end of a certain period of time. You invested $1200 at a 6.4% simple annual interest rate. How long, in years, was your money invested? State your result to the nearest hundredth of a year.

Intermediate Algebra
19th Edition
ISBN:9780998625720
Author:Lynn Marecek
Publisher:Lynn Marecek
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.59TI: New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will...
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Suppose you have $1400 in your savings account at the end of a certain period of time. You invested $1200
at a 6.4% simple annual interest rate. How long, in years, was your money invested?
State your result to the nearest hundredth of a year.
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Transcribed Image Text:Suppose you have $1400 in your savings account at the end of a certain period of time. You invested $1200 at a 6.4% simple annual interest rate. How long, in years, was your money invested? State your result to the nearest hundredth of a year. Submit Question
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