You have to make sure the number is 650,000 or above, and 749,999 or under
Answer:
Step-by-step explanation:
You have the formula written correctly, so now we just need to fill it in with what we have. Our principle, or initial investment, is 21,000; our interest rate of 4.6% as a decimal (always as a decimal!) is .046; and our interest earned is 900. We need to find t. Setting up with what we have:
21000(.046)(t) = 900 and
966t = 900 and
t = .931 years
.9 of a year is the same as 10.8 months or so.
