3 years ago

What would be the height rounded to the nearest tenth

Mathematics

1 answer:

tangare [24]3 years ago

3 0

Answer:

32.5 ( i think )

Step-by-step explanation:

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1000 was invested at 5.5% interest, compounded annually. After sometime the amount had grown to 1550. How long was the money inv

scZoUnD [109]

compound interest equation for annually compounded

$A=P(1+r)^t$

A=final amount

P=principal

r=rate in decimal

t=time in years

given that

A=1550

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find t

$1550=1000(1+0.055)^t$

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$1.55=1.055^t$

take ln of both sides

$ln(1.55)=ln(1.055^t)$

use ln rule $ln(a^b)=b(ln(a))$

$ln(1.55)=t(ln(1.055))$

divide both sides by ln(1.055)

$\frac{ln(1.55)}{ln(1.055)}=t$

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