Answer:
5 years
Step-by-step explanation:
In the question we are given;
- Amount invested or principal amount as $5048
- Rate of interest as 4% compounded 12 times per year
- Amount accrued as $6,163.59
We are required to determine the time taken for the money invested to accrue to the given amount;
Using compound interest formula;

where n is the interest period and r is the rate of interest, in this case, 4/12%(0.33%)
Therefore;



introducing logarithms on both sides;

But, 1 year = 12 interest periods
Therefore;
Number of years = 60.61 ÷ 12
= 5.0508
= 5 years
Therefore, it will take 5 years for the invested amount to accrue to $6163.59
Yes it is an irrational number
He saved 30 dollars through babysitting. My math is:
84 / 14 = 6
6 x 5 = 30
I hope this helps!
Answer:
$356.78
Step-by-step explanation:
$178.39 * 2
Highly because they do not have to vacuum their car