David invested $220 in a savings account that offers a 3% return on the investment. The value of David's investment will be at least $400 after a period of (blank) years?

Question

anonymous · Answer

hmm simple interest or compounded interest?

anonymous · Answer

If its Simple Interest:
FV=P+(P*R*N)
Where FV=Future Value =400
P= Principal Amt =220
R=Interest Rate = .03
N= Number of years which you gotta solve for
So plug in all the values into the above equation and solve for N

anonymous · Answer

no, i need a certain number of years..

anonymous · Answer

Ya solve for N

anonymous · Answer

n represents the number of years

anonymous · Answer

Well i don't know how to do it. but thanks.