-3432
1 answer:
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The correct formula for this is as follows:
where n is the number of compounding periods per year, and r is the annual interest rate as a decimal,
Plugging the given values into the formula, we get:
This equation can be simplified to:
Taking logs of both sides gives:
which can be rearranged to get:
So it will take about 5.864 years for the amount to reach $4550.
where n is the number of compounding periods per year, and r is the annual interest rate as a decimal,
Plugging the given values into the formula, we get:
This equation can be simplified to:
Taking logs of both sides gives:
which can be rearranged to get:
So it will take about 5.864 years for the amount to reach $4550.
Answer:
C and $320.45
Step-by-step explanation:
I think it's C because this is the full function :
And to get the b part of the question i just put the number in
I'm not a 100% sure, sorry if it's wrong