Calculate the Time Necessary to Achieve the Investment Goal

question 52

Multiple Choice

Calculate the time necessary to achieve the investment goal. Give your answer to the nearest day. Use a 365-day year. ​
$1,000 at 6% simple interest; deposit $800
​

• A) 4 year 62 days
• B) 4 year 304 days
• C) 4 year 76 days
• D) 4 year 69 days
• E) 4 year 61 days

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