Jason’s savings account has a balance of $1847. After 5 years, what will the amount of interest be at 6% compounded semiannually
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Answer:
7
Step-by-step explanation:
If a system decreases by 12% it's the same as multiplying it by .12-1 or .88
This means we can create the following equation
computer value=5300(.88)^n
where n is the number of years
We can then plug in the value of the computer and solve for n
2200=5300(.88)^n
Divide by 5300 and get
.415=.88^n
Then put this into log form and get
Evaluate this into your calculator and get n=6.69 which I would probably just round to 7