The time it will take the principal to grow to the desired amount is 0.7 years
Using the compound interest formula :
A = P(1 + r/n)^(nt)
A = final amount = 225,000
P = principal = 180,000
r = rate = 3.12%
n = Number of compounding times per period = 12(monthly)
t = time
225000 = 180000(1 + (0.0312 /12))^(12t)
Divide both sides by 180000
225000/180000 = (1 + (0.0312 /12))^(12t)
1.25 = 1.026^12t
Take the log of both sides
0.0969100 = 0.0111473 × 12t
0.0969100 = 0.1337676t
Divide both sides by 0.1337676 to isolate t
0.0969100 / 0.1337676 = t
0.7244 years
0.7 years
It will take 0.7 years for the amount to grow
Learn more : brainly.com/question/21270833?referrer=searchResults
<span>Using whole numbers, fractions, and decimals, these are the eight addition equations that have the sum of 10
</span>1. 5+5=10
2. 1 1/2 + 8 1/2 =10
3. 2.9+7.1=10
4. 6 1/3 + 3 2/3 =10
5. 4 3/5 + 5 2/5=10
6. 9.01+.99=10
7. 3.72+6.28 = 10
8. 8 8/9+ 1 1/9=10
Answer:
x = 7/15
Step-by-step explanation:
you can check by replacing the x with the number I gave you
Answer:
We are given a equation as:
5log(x+3)=5
We are asked to find a graph that is used to solve the above equation.
We can write the given equation as:
we will divide both side of the equation by 5 to obtain:
log(x+3)=1
Now we have to determine which graph represents the function:
y=log(x+3)
since we know that when x=-2.
y=log(-2+3)=log(1)=0
Hence, the graph should pass through (-2,0).
Hence, the graph that satisfies this is attached to the answer.
Step-by-step explanation:
