9514 1404 393
Answer:
4.8 years
Step-by-step explanation:
Solving the compound interest formula for the number of years gives ...
t = log(A/P)/(n·log(1 +r/n))
where principal P invested at rate r compounded n times per year produces value A after t years.
t = log(24805/22000)/(365·log(1 +0.025/365)) ≈ 4.800
The loan was for 4.8 years.
Answer:
77.98
is not approximately
is?
Step-by-step explanation:
Yo creo que es 1,504.5 gramos en total que compro María!!
Answer:
i dont understand, can you elaborate
Step-by-step explanation:
Answer:
6%.
Step-by-step explanation:
We have been given that Tammy deposited $520 in the bank account that earns simple interest every year after 5 years she had earned $156.
To find the interest rate we will use simple interest formula.

I= Interest.
P= Principal amount.
r=Annual interest rate (in decimal form).
T= Time in years.
We have been given that I=156, T=5, P=520
Upon substituting our values in above formula we will get,




Let us multiply 0.06 by 100 to convert annual interest rate in percentage.

Therefore, the annual interest rate was 6%.