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
He asserts that the monarchy began out of sin, as according to the Bible. He asserts that no one family has the right to assert power over others. He does assert that if a king is chosen by election, the following kings should as well, rather than heirs.
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