Question

Manny invested $8,000 in an account that pays 6.5% simple

interest. Manny will not make any additional deposits or
withdrawals. How many years must the money stay invested for
before the investment has a balance of $13,200?​

Answer 1

10 years

Explanation:

Simple interest formula:

AV=PV(1+it)

13200=8000(1+.065t)

1.65=1+.065x

.65=.065x

10=x