Question

WILL MARK BRAINLIEST The amount (A) that principal (P) will be worth after t years at interest rate (r) compounded annually is

Answer 1

Answer:

15 years

Step-by-step explanation:

Since we're looking for time, we can use the formula t =  A / Pr, which would be:
t = 6000/(7255 x 5.5%)
Converting the percentage into decimal form
t = 6000/(7255 x 0.055)
We can then solve to get:
t = 6000/399.025
t = 15.03665183...
Meaning it would take 15 years for an interest of 5.5% on $6,000 to reach $7,255. Not very worth $1,255 extra if you need that 6k for rent.