Answer: lt will take 28.09 years for the account value to reach $37800
Step-by-step explanation:
Hi, to answer this question we have to apply the compounded interest formula:
A = P (1 + r) t
Where:
A = Future value of investment (principal + interest)
P = Principal Amount
r = Annual Nominal Interest Rate (decimal form)
Replacing with the values given
37800= 9600 (1+0.05)^t
Solving for t (years)
37800/9600 = 1.05^t
3.9375 = 1.05^t
log 3.9375 = log 1.05^t
log 3.9375 = t (log 1.05)
log 3.9375/log 1.05 = t
t = 28.09 years
Answer:
none
Step-by-step explanation:
Answer:
Step-by-step explanation:
Think about how many boxes he had bought, which totals to over £80 which means he had received an 8 percent discount hope this is right
Answer:
R=5.5%, P=$1000, T=5yrs
I=PRT/100
I=5.5×1000×5/100
I=$275.00 for the account one, the account two will be $250.00 by comparing, the account one is close to the interest
You can't put it in simplest form 13 can't go lower evenly
