Answer is in the file below
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The time it will take the principal to grow to the desired amount is 0.7 years
Using the compound interest formula :
A = P(1 + r/n)^(nt)
A = final amount = 225,000
P = principal = 180,000
r = rate = 3.12%
n = Number of compounding times per period = 12(monthly)
t = time
225000 = 180000(1 + (0.0312 /12))^(12t)
Divide both sides by 180000
225000/180000 = (1 + (0.0312 /12))^(12t)
1.25 = 1.026^12t
Take the log of both sides
0.0969100 = 0.0111473 × 12t
0.0969100 = 0.1337676t
Divide both sides by 0.1337676 to isolate t
0.0969100 / 0.1337676 = t
0.7244 years
0.7 years
It will take 0.7 years for the amount to grow
Learn more : brainly.com/question/21270833?referrer=searchResults
Answer:
t = 6/5
Step-by-step explanation:
Step 1: Define
k(t) = 10t - 19
k(t) = -7
Step 2: Substitute and Evaluate
-7 = 10t - 19
12 = 10t
t = 6/5
Answer:
L = 3√5
Step-by-step explanation:
A square and a rectangle have equal areas.
Area of a square = Area of a rectangle
L² = H * W
If the dimensions of the rectangle are 15 units by 3 units,
L² = 15 * 3
L² = 45
Determine the length of the side of the square.
L = √45
L = 3√5
