Kaleigh wants to buy a car that costs $17360. She deposits $14,000 in a savings account that earns 8% simple interest. How long was Kaylee l

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Kaleigh wants to buy a car that costs $17360. She deposits $14,000 in a savings account that earns 8% simple interest. How long was Kaylee leave the money in the savings account to be able to buy the car?

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Verity 4 years 2021-08-17T07:26:00+00:00 1 Answers 8 views 0

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  1. thuthao
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    2021-08-17T07:27:01+00:00
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    Answer:

    Kaylee must leave the money in the savings account for 3 years.

    Step-by-step explanation:

    Given that Kaylee wants to buy a car that costs $ 17,360, and she deposits $ 14,000 in a savings account that earns 8% simple interest, to determine how long was Kaylee leave the money in the savings account to be able to buy the car must be made the following calculation:

    14,000 + (14,000 x 0.08 x X) = 17360

    1,120X = 17,360 – 14,000

    X = 3,360 / 1,120

    X = 3

    Therefore, Kaylee must leave the money in the savings account for 3 years.

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