The time required to get a total amount of $13,200.00 with compounded interest on a principal of $7,000.00 at an interest rate of 5.5% per year and compounded 12 times per year is 11.559 years. (about 11 years 7 months)
Answer:
t = 11.559 years
<h3>Compound Interest </h3>
Given Data
(about 11 years 7 months)
Calculation Steps:
First, convert R as a percent to r as a decimal
r = R/100
r = 5.5/100
r = 0.055 per year,
Then, solve the equation for t
t = ln(A/P) / n[ln(1 + r/n)]
t = ln(13,200.00/7,000.00) / ( 12 × [ln(1 + 0.055/12)] )
t = ln(13,200.00/7,000.00) / ( 12 × [ln(1 + 0.0045833333333333)] )
t = 11.559 years
Learn more about compound interest here:
brainly.com/question/24924853
Answer:
80
Step-by-step explanation:
You add the exponent. You never multiply it.
Hope this helps!
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Answer:
83.2 miles
Step-by-step explanation:
what i had to do was multiply 7.3 by 13 and that was 94.9 that was as close as i could get it to 100 so i then multipled 6.4 by 13 and got 83,2 miles
