You will need to use this formula:
<span>Years = {log(total) -log(Principal)} ÷ log(1 + rate)
Years = [log(15,000) - log(2,500)] / log (1.0525)
</span>
<span>
<span>
<span>
4.1760912591
</span>
</span>
</span>
-
<span>
<span>
<span>
3.3979400087
</span>
</span>
</span>
/
<span>
<span>
<span>
0.0222221045
</span>
</span>
</span>
=
<span>
<span>
<span>
0.7781512504
</span>
</span>
</span>
/ <span>
<span>
<span>
0.0222221045 =
</span></span></span>
<span>
<span>
<span>
35.0169917705
</span>
</span>
</span>
years
About 35 years
You'll find the formula here: http://www.1728.org/compint2.htm
And a compound interest calculator here: http://www.1728.org/compint.htm
(You'll find both are helpful for this problem).
Answer:
37.97
Step-by-step explanation:
y=-0.00001(37000)+0.97
=-37+0.97
=37.97
4v
You would subtract 10-6
Then you would add the v
The correct answer is (0, 3)
