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sweet-ann [11.9K]
2 years ago
9

Frank invests $1,000 in simple interest investment account that pays 8% a year. After a number of years, he withdraws his balanc

e of $2,200. Using the formula mc006-1.jpg, how many years was his money invested?
Advanced Placement (AP)
2 answers:
OverLord2011 [107]2 years ago
7 0
Hi there
The formula is
A=p (1+rt)
We need to solve for t
T=[(A/p)-1]÷r
Where
A future value 2200
P present value 1000
R interest rate 0.08
T time?
So
T=((2,200÷1,000)−1)÷0.08
T=15 years

Another time like this question you should post in at mathematics subject
Hope it helps
lyudmila [28]2 years ago
4 0

Answer:

15

Explanation:

I just got it correct!

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double a;

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2 years ago
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The correct answer to this open question is the following.

Unfortunately, you forgot to include the text or the excerpt for reference.

There are also no options attached.

What response? From who? What is the reference?

However, trying to help, we can comment on the following general terms.

What does his response tell you about the Framers' intentions regarding the institutional design of the judiciary?

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