A person invest $2,940 in an account tgat earns 4.1% annual intrest. Find when the value of the investment reaches 5,000. If nec
essary round to the nearest tenth
1 answer:
Answer:
13.22
Step-by-step explanation:
were solving for t and we know:
a(t)=p(1+(r/n))^nt
5000=a-the total
2940=p-the starting amount
.041=r-the rate
1=n-compound (annual)
plug this into a graph :
5000=2940(1+(.041/1))^x
and you get : 13.22
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