The formula is
A=p (1+r)^t
A future value 6678
P present value 5300
R interest rate 0.065
T time?
6678=5300 (1+0.065)^t
6678/5300=(1+0.065)^t
Take the log for both sides
Log (6678/5300)=t×log (1+0.065)
Divide both sides by log (1+0.065)
T=(log(6,678÷5,300)÷log(1+0.065))
T=3.7 years
Hope it helps!
The
amount of interest earned from a specific investment can be calculated by
multiplying the principal amount with the decimal equivalent of the given
percentage or interest rate. That is,
<span> I = P x i</span>
Substituting
the known values,
<span> I = ($580)(0.615)</span>
<span> I = $356.7</span>
<span>Answer:
$356.7</span>
Answer: 7+0.7+0.05
Since 7 is in the ones place it goes in front of the decimal. .7 is in the tenth place because it's behind the decimal. .05 is also behind the decimal so it's in the hundredths place.