Given : Suppose you have $1,950 in your savings account at the end of a certain period of time. You invested $1,700 at a 6.88% simple annual interest rate.

To find : How long, in years, did you invest your money?

Solution :

Applying simple interest formula,

$A=P(1+r)^t$

Where, A is the amount A=$1950

P is the principal P=$1700

r is the interest rate r=6.88%=0.0688

t is the time

Substitute the values in the formula,

$1950=1700(1+0.0688)^t$

$\frac{1950}{1700}=(1.0688)^t$

$1.147=(1.0688)^t$

Taking log both side,

$\log(1.147)=\log ((1.0688)^t)$

Applying logarithmic formula, $\log a^x=x\log a$

$\log(1.147)=t\log (1.0688)$

$t=\frac{\log(1.147)}{\log (1.0688)}$

$t=2.06$

Approximately, He invest for 2 years.

5 0

3 years ago

What is the answer to -2(7-y)+4=-

pashok25 [27]

Answer:

2y-10

Step-by-step explanation:

-2(7-y)+4

distribute:

=(-2)(7)+(-2)(-y)+4

= -14+2y+4

Combine like terms:

= -14+2y+4

=(2y)+(-14+4)

= 2y+-10

8 0

4 years ago

For the given equation, find the center and radius of the circle<br>x2 + (y + 3)2 = 49

alexira [117]

Step-by-step explanation:

×2+(y+3) 2=49

2×y=2y=2×3=6

49-2=47

2y=47-6=41

2y=41÷2=20 1/2

3 0

3 years ago