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Sergio039 [100]
3 years ago
7

Select the items that represent needs in your account summary. BANK ABC Available balance $ 230.00 Mobile phone plan $ 45 Rent $

400 Auto insurance $ 60 Backpack $ 10 Electricity bill $ 60 Vehicle payment $ 250
Mathematics
1 answer:
nadya68 [22]3 years ago
7 0

Answer:

abcdefghijklmnopqrswxyz

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Jasmine wants to start saving to purchase an apartment. Her goal is to save $225,000. If she deposits $180,000 into an account t
Y_Kistochka [10]

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

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