Tina wants to save money for school. Tina invests $700 in an account that pays an interest rate of 4%. How many years will it ta

Question

Allushta [10]

3 years ago

9

Tina wants to save money for school. Tina invests $700 in an account that pays an interest rate of 4%. How many years will it ta

ke for the account to reach $1,800? Round your answer to the nearest hundredth

Mathematics

2 answers:

adelina 88 [10] · Answer 1 · 2022-05-22T21:15:55+03:00

adelina 88 [10]3 years ago

4 0

Answer:24.08

Step-by-step explanation:

log 2.57143 = log (1.04)^t simplify

blagie [28] · Answer 2 · 2022-05-22T20:12:55+03:00

blagie [28]3 years ago

3 0

T=log (A/p)/log (1+r)

A future value 1800
P present value 700
R interest rate 0.04
T time ?

T=log(1,800÷700)÷log(1+0.04)
T=24.08 round your answer
T=24 years

Hope it helps:-)