N+9
The other factor is n-6
Once multiple together, you will get the same equation again
Answer:
17 years
Step-by-step explanation:
The compound interest formula is ...
A = P(1 +r/n)^(nt)
where P is the principal invested at annual rate r, compounded n times per year for t years.
Filling in the numbers and solving for t, we find ...
16826.03 = 8534(1 +.04/12)^(12t)
16826.03/8534 = 1.0033333...^(12t)
Taking logs, we have ...
log(16826.03/8534) = 12t·log(1.0333333...)
Dividing by the coefficient of t gives ...
log(16826.03/8534)/(12·log(301/300)) = t ≈ 17.000
It will take 17 years for the account balance to reach $16,826.03.
Answer:
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Answer:
903
Step-by-step explanation:
