5400 dollars is placed in an account with an annual interest rate of 6.75% To the nearest tenth of a year, how long will it take for the account value to reach 11200 dollars?

Solución

Solución

Time : 15.91

Pasos de solución

Translate the problem into an equation:

11200 = 5400 (1 + 0.0675 t)

Resolver para

t, 11200 = 5400 (1 + 0.0675 t) : t = 15.91

Time : 15.91

Ejemplos populares

If you invested 3,000 in an account with an interest rate of 6.7% compounded weekly for 3 years, how much interest would you have earned on your money?You deposit 150 in an investment account that earns 4.2% annual interest compounded monthly.What is the balance of the account after 7 years?two numbers are in a ratio of 5:2. One half of their sum is 10 1/2 . Find the numbers.when Laurel has 3 apples, she eats 1 how many are left?Abigail invested 2,900 in an account paying an interest rate of 2.8% compounded quarterly. Assuming no deposits or withdrawals are made, how long would it take, to the nearest year, for the value of the account to reach 4,050?