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xenn [34]
3 years ago
6

You decide to put $100 in a savings account to save for a $3,000 down payment on a new car. If the account has an interest rate

of 2% per year and is compounded monthly, how long does it take you to earn $3,000 without depositing any additional funds?
Mathematics
2 answers:
larisa [96]3 years ago
8 0

Answer:

the exact answer is 170.202 years Just took the test and this was right!!

Step-by-step explanation:


Svetach [21]3 years ago
7 0
T=[(log(3000/100)/log(1+0.02/12)]/12
T==170.2 years
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Answer:

  x = 6

Step-by-step explanation:

The sum of segments is used:

  EF +FG = EG

  3x +(5x +16) = 11x -2 . . . . substitute given expressions

  8x +18 = 11x . . . . . . . . add 2

  18 = 3x . . . . . . . . subtract 8x

  6 = x . . . . . . divide by 3

The value of the variable is 6.

__

<em>Check</em>

The segment lengths are ...

  EF = 3x = 3·6 = 18

  FG = 5x+16 = 5·6 +16 = 46

  EG = 11x -2 = 11·6 -2 = 64 = 18+46 . . . answer is correct

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