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3 years ago

9

A loan of $ 16,000 is made at 7 % interest, compounded annually. After how many years will the amount due reach $ 27,000 or more

?

1 answer:

Roman55 [17]3 years ago

7 0

About 9.8 years would be your answer

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Step-by-step explanation:

Let the lengths of equal sides be x units.

Hence, AB + AD + DC = x + x + x = 3x

Therefore, BC = 3x - 2

$Area \: of \: trapezoid \\ = \frac{1}{2} (AD + BC) \times 5 \\ = \frac{1}{2} (x + 3x - 2) \times 5 \\ = \frac{1}{2} (4x - 2) \times 5 \\ = \frac{1}{2} \times 2 (2x - 1) \times 5 \\ = (2x - 1) \times 5 \\ = (10x - 5) \: {units}^{2}$

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