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

Question

3 years ago

15

essary round to the nearest tenth

1 answer:

serg [7] · Answer 1 · 2022-05-13T11:27:16+03:00

serg [7]3 years ago

7 0

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