Your parents gives you $12,000 as a college graduation gift.They tell you that it's from a
$2790.70 investment they made when they first got married that paid 11% simple interest.How
long ago was their investment made?

Name: Your parents gives you $12,000 as a college graduation gift.They tell you that it's from a $2790.70 investment they made when they first got married that paid 11% simple interest.How long ago was their investment made?
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The Answer is

\begin{array} { l } F = P ( 1 + n i ) \quad \$ 12,000 = \$ 2790.70 \left( 1 ^ { + } 0.1 ln ight) \n = \frac { \frac { \$ 12,000 } { \$ 2790.70 } - 1 } { 0.11 } = 30\end{array}

Your Parents Gives You $12,000 as a College Graduation Gift