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2 years ago

6

A principal of $4700 is invested at 3% interest, compounded annually. How many years will it take to accumulate $6000 or more in

the account? (Use the calculator provided if necessary.) Write the smallest possible whole number answer.

1 answer:

mafiozo [28]2 years ago

4 0

9 years because if you do 4700 * 1.03= 4831 now do that 9 times you get 6,132.43

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$\bf \textit{parabola vertex form with focus point distance}\\\\
\begin{array}{llll}
\boxed{(y-{{ k}})^2=4{{ p}}(x-{{ h}})} \\\\
(x-{{ h}})^2=4{{ p}}(y-{{ k}}) \\
\end{array}
\qquad 
\begin{array}{llll}
vertex\ ({{ h}},{{ k}})\\\\
{{ p}}=\textit{distance from vertex to }\\
\qquad \textit{ focus or directrix}
\end{array}\\\\$

$\bf -------------------------------\\\\
\begin{cases}
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\\\\\\
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