4500 dollars is placed in an account with an annual interest rate of 7%. To the nearest tenth of a year, how long will it take for the account value to reach 10800 dollars?

Solución

Solución

Time : 20

Pasos de solución

Translate the problem into an equation:

10800 = 4500 (1 + 0.07 t)

Resolver para

t, 10800 = 4500 (1 + 0.07 t) : t = 20

Time : 20

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