A week before an election, 15,00 people were asked who they planned to vote for. Of the people that asked, 45% said they planned
2 answers:
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Answer: 6 years
Step-by-step explanation:
Formula to calculate compound amount: , where P= Principal , r=rate of interest, t= time
Given: P = £400, r = 3% = 0.03 , A= 475
Required equation:
Taking log on both sides , we get
Hence, he needs to invest the money for 6 years to get atleast £475.