The time that Carlene would have to wait to buy the desk is 4 years.
<h3>How long would it take before Carlene can afford to buy the desk?</h3>
When an amount of money is compounded, it means that both the amount that was invested and the interest accrued earn interest.
The formula that can be used to determine the time is
N = log(FV / PV) / log(e) / interest rate
log(500 / 400) / log(e) / 0.06 = 3.71 years = 4 years
To learn more about how to determine time, please check: brainly.com/question/25760893
Answer:
Explanation:
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Answer:
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Answer:
the answer should be 1.71
Explanation:
you just divide 18.81 by 11 and you get your answer
