louis is saving money for a car, he invests 1200 in an account that pays an interest rate of 7.5%. how many years will it take for the account to reach 14000?

142 years 3 months

Step-by-step explanation:

Let us assume the investment is made using a simple interest

Given data

Principal p = $1200

Rate r = 7.5% = 7.5/100 = 0.075

Final amount A = $14000

Time t=?

The Simple interest formula is expressed as

A = p (1+rt)

Substituting we can solve for t

14000 = 1200 (1+0.075t)

14000 = 1200+90t

14000-1200=90t

12800 = 90t

t = 12800/90t = 142.22 years

The time required to get a total amount, principal plus interest, of $14,000.00 from simple interest on a principal of $1,200.00 at an interest rate of 7.5% per year is 142.22 years (about 142 years 3 months).