Pythagorus Theorm
a sqr + b sqr = c sqr
25 sqr + 7 sqr = c sqr
625 + 49 = c sqr
625 + 49 = 674
c = sqr root of 674
c = 25.96 (rounded to 2dp)
Since I can't draw a model the answer is equal because if you reduce 6/8 the answer is 3/4
The formula is
A=p (1+r)^t
A future value 7300
P present value 1500
R interest rate 0.0675
T time?
7300=1500 (1+0.0675)^t
Solve for t
Divide both sides by 1500
7300/1500=1.0675^t
Take the log for both sides
Log (7300/1500)=t×log (1.0675)
Divide both sides by log (1.0675)
T=log(7,300÷1,500)÷log(1.0675)
T=24.2 years round your answer to get 24 years
Hope it helps!
