Assuming that the interest is paid as compound interest.
Final value = Intial Value × (Multiplier)ⁿ
Multiplier is 100% + the percentage increase/decrease The letter 'n' is for the number of years
We have: Initial Value = 1000 Final Value = 18600 Multiplier = 100% + 6.75% = 1 + 0.0675 = 1.0675
We are looking to find: The number of years 'n'
Substituting the values we have into the formula
18600 = 1000 × (1.0675)ⁿ 18600 ÷ 1000 = 1.0675ⁿ 18.6 = 1.0675ⁿ ⇒ From here you can use either trial and error method or you can use logarithm law
Using trial and method Let n = 1; 1.0675¹ = 1.0675 ⇒ Not the result we want Let n = 5; 1.0675⁵ = 1.39 ⇒ Not the result we want Let n = 10; 1.0675¹⁰ = 1.92 ⇒ Not the result we want Let n = 25; 1.0675²⁵ = 5.12 ⇒ Still too small Let n = 55; 1.0675⁵⁵ = 36.33 ⇒ Values are too big Let n = 40; 1.0675⁴⁰ = 13.64 ⇒ Too small (we narrowed down the value of n to be between 40 and 55)
Let n = 48; 1.0675⁴⁸ = 23.00 ⇒ Too big Let n = 45; 1.0675⁴⁵ = 19.00 ⇒ Let's try n = 44 to see which value are closer to 18.60
Let n = 44; 1.0675⁴⁴ = 17.70 ⇒ This a little far from 18.6
So we have our answer, n = 45
Conclusion: Tina needs to save for 45 years to get $1000 to $18600 with compound interest 6.75% paid yearly.
The triangle given has two equal sides, and an obtuse angle that is more than 90° that measures 120°. The other two angles are of equal measure since their opposite sides are of the same length. Thus, this implies that it is an isosceles triangle because it has two equal base angles and two equal sides. It also implies that it is an obtuse triangle since one of it's angles is more than 90°.
