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Anna71 [15]
4 years ago
10

Jen wants to save money for the future. Jen invests $700 in an account that pays an interest rate of 6.75% How many years will i

t take for the account to reach $16,300. Round your answer to the nearest hundredth
Mathematics
2 answers:
pishuonlain [190]4 years ago
7 0
700 x 0.0675 x t = 16,300
47.25t = 16,300
t = 16,300 / 47.25
t = 344.97 years

answer
344.97 years

EleoNora [17]4 years ago
6 0
16300=700(1.0675)^t
Solve for t
t=log(16,300÷700)÷log(1.0675)
t=48 years
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