3 years ago

What is the area of a rectangle

Mathematics

2 answers:

DerKrebs [107]3 years ago

6 0

Jane is correct, otherwise we need exact dimensions to give you the answer

Luda [366]3 years ago

5 0

Length times height equals area

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A person invests 9000 dollars in a bank. The bank pays 6% interest compounded monthly. To the nearest tenth of a year, how long

il63 [147K]

Answer:

$7.4\ years$

Step-by-step explanation:

we know that

The compound interest formula is equal to

$A=P(1+\frac{r}{n})^{nt}$

where

A is the Final Investment Value

P is the Principal amount of money to be invested

r is the rate of interest in decimal

t is Number of Time Periods

n is the number of times interest is compounded per year

in this problem we have

$t=?\ years\\ P=\$9,000\\ r=0.06\\n=12\\ A=\$14,000$

substitute in the formula above

$14,000=9,000(1+\frac{0.06}{12})^{12t}$

$(14/9)=(1.005)^{12t}$

Apply log both sides

$log(14/9)=(12t)log(1.005)$

$t=log(14/9)/[(12)log(1.005)]$

$t=7.4\ years$

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