2 feet, subtract the fractions from the whole number
Answer:
82 years and 3 quarters
Step-by-step explanation:
A = P (1 + r / n)ⁿˣ
P = Principal amount
r = Annual interest rate
n = Number of compounds per year
x = time in years
A = Amount after time 'x'
10500 = 2100 (1 + 0.0195 / 4)⁴ˣ
Divide the whole equation by 2100
10500 / 2100 = ({2100 (1 + 0.004875)} / 2100 )⁴ˣ
5 = (1.004875)⁴ˣ
Taking Natural logarithm (㏑) on both sides
㏑ 5 = ㏑ (1.004875)⁴ˣ
㏑ 5 = 4x ㏑ (1.004875)
1.6094 = 4x (0.004863)
1.6094 = 0.01945x
x = 82.75
So, If compounded quarterly at an APR of 1.95% the amount deposited in savings account of $2100 will accumulate to $10500 in 82 years and 3 quarters.
;-;
Let's just do a bunch of math below.
7.8 X 103 ?
-------------- = ------
1.2 X 104 ?
So, first, we're gonna do 7.8 multiplied by 103 to get 803.4.
Thus....
7.8 X 103 803.4
-------------- = -----------
1.2 X 104 ?
Then we would do 1.2 multipied with 104 to get a product of 124.8.
Therefore....
7.8 X 103 803.4
-------------- = -----------
1.2 X 104 124.8
Dividing 803.4 by 124.8 would get you a quotient of 6.4375.
Your answer is 6.3475.~
Have a nice day~
They are the same , hope this helps :)
