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Popular >

find how long it takes 1900dollars investment to earn 60.00dollars in interest if the interest rate is 2% compounded annually

Solución

find how long it takes 1900dollars investment to earn 60.00dollars in interest if the interest rate is 2% compounded annually

Solución

Time : 1.57

Pasos de solución

Translate the problem into an equation:

1960 = 1900 (1 + \frac{0.02}{1})^{1 \cdot t}

Resolver para

t, 1960 = 1900 (1 + \frac{0.02}{1})^{1 \cdot t} : t = 1.57

Time : 1.57

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