Nicole deposited $2,000 at 6% simple interest. How long will it be before she has $2,600 in her account?
1 answer:
FV=PV(1+r)ⁿ
FV=Future Value, or the $2,600 that you want.
PV=Present Value, or the value that you are depositing.
APR: .06
2,600=2,000(1.06)ⁿ
2,600=2120ⁿ
It would take about a year for Nicole to get $2600.
~Hope I helped~
You might be interested in
34 + x = 63
x = 63-34
x = 29
Solve using the Pythagorean theorem.
The hypotenuse is c.
how many sides does each triangle
and cut them into equal parts
Answer:
For number 1: y=2 and x=3
<span>x + 1/2 = 3/4
</span><span>x + 2/4 = 3/4
x = 3/4 - 2/4
x = 1/4
answer
</span><span>x = 1/4</span>
