The time it will take the principal to grow to the desired amount is 0.7 years
Using the compound interest formula :
A = P(1 + r/n)^(nt)
A = final amount = 225,000
P = principal = 180,000
r = rate = 3.12%
n = Number of compounding times per period = 12(monthly)
t = time
225000 = 180000(1 + (0.0312 /12))^(12t)
Divide both sides by 180000
225000/180000 = (1 + (0.0312 /12))^(12t)
1.25 = 1.026^12t
Take the log of both sides
0.0969100 = 0.0111473 × 12t
0.0969100 = 0.1337676t
Divide both sides by 0.1337676 to isolate t
0.0969100 / 0.1337676 = t
0.7244 years
0.7 years
It will take 0.7 years for the amount to grow
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1 solution is available when variable equals a constant.
Answer: Option B.
<u>Explanation:</u>
You will be able to determine if an equation has one solution (which is when one variable equals one number), or if it has no solution (the two sides of the equation are not equal to each other) or infinite solutions (the two sides of the equation are identical).
The ordered pair that is the solution of both equations is the solution of the system. A system of two linear equations can have one solution, an infinite number of solutions, or no solution. If a consistent system has exactly one solution, it is independent.
Answer:
Pretty sure it's 27
Step-by-step explanation:
(2 4= 8) + 3 (4 4= 16)=27