Try to use Mathway if your having trouble solving your equations
Write one way to
1 answer:
You might be interested in
Answer and Step-by-step explanation:
First, you need to make the function to represent the information given.
We start with 70,000 in the account, and have an interest rate of 6.2%.
We want to know how long it will take to get $223,200.
The equation for simple interest is:
A =
Where A is the total amount, P is the principle amount of money, r is the rate, and t is the time.
Now, we plug in the values and solve for t.
t = 0.353
Multiply by 100 to get the years.
t = 35.3
So, it will take Allison 35.3 years to get 70,000 dollars to 223,200 dollar with an interest rate of 6.2%
<em><u>#teamtrees #PAW (Plant And Water)</u></em>
<em><u></u></em>
<em><u>I hope this helps!</u></em>