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Simrin invests $8500 in a bank account that earns a 1

Math Feb 11, 2023

Simrin invests $8500 in a bank account that earns a 1.4% interest rate. Simrin wants to buy a new pair of Nike shoes for $179 after tax with the interest she earns from her investment. Therefore she asks Jovin, the bank teller, how long it would take for her investment to make $179 in interest to buy her shoes? Jovin needs to represent his bank well by answering Simrin's question in an approximate way and the most accurate way while still making the answers he gives his customer as understandable as possible. What are Jovin's best answers to Simrin's question, both approximate and exact, about how long it takes to make $179 of interest from her initial investment?

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