The time it will take the principal to grow to the desired amount is 0.7 years
Using the compound interest formula :
A = P(1 + r/n)^(nt)
A = final amount = 225,000
P = principal = 180,000
r = rate = 3.12%
n = Number of compounding times per period = 12(monthly)
t = time
225000 = 180000(1 + (0.0312 /12))^(12t)
Divide both sides by 180000
225000/180000 = (1 + (0.0312 /12))^(12t)
1.25 = 1.026^12t
Take the log of both sides
0.0969100 = 0.0111473 × 12t
0.0969100 = 0.1337676t
Divide both sides by 0.1337676 to isolate t
0.0969100 / 0.1337676 = t
0.7244 years
0.7 years
It will take 0.7 years for the amount to grow
Learn more : brainly.com/question/21270833?referrer=searchResults
Answer:
LMN has a larger area
Step-by-step explanation:
Given
RST
LMN
Required
Compare both areas
The area of triangle is:
For RST, we have:
Remove absolute signs
For LMN, we have:
Remove absolute signs
<em>By comparing both areas, we can conclude that LMN has a larger area</em>
Answer:
g ≤ 56
Step-by-step explanation:
56 + 14 ≤ 70
70 ≤ 70
<h2>
Answer:</h2>
This system can be solved for x by elimination.
Now, with what we found for x, we plug it back into one of the equations to solve for y. I chose the second one.
Now, we have our solution.
