Answer:
55years
Explanation:
According to the given expression
FV = P +Prt
P is the initial deposit = $1000
FV is the future value = 4(1000) = $4000
r is the rate = 5.5% = 0.055
Required
Time t
Substitute the given values into the expression as shown;
FV = P +Prt
4000 = 1000 + 1000(0.055)t
4000 - 1000 = 55t
3000 = 55t
Swap
55t = 3000
t = 3000/55
t = 54.5years
t = 55years
This means it will take the deposit of $1000 55years to quadruple
The factors of -18 are 1, 2, 3, 6, 9, 18 and their negative counterparts :)
Answer:
5i√10
Step-by-step explanation:
hope this answers your question
:)
Answer:
The amount in the first account is $5,700
The amount in the second account is $1,300
Step-by-step explanation:
Let the mount invested in the first account be 
and the one invested in the second account be 
.
Then the total principal is 
---->(1)
The interest in the first account is 
The interest in the first account is 
The total interest for the year is 262.00.
This implies that:
---->(2)
We solve the two equations simultaneously to get:
and 
