Answer:
12 years
Step-by-step explanation:
The formula to solve the above question i.e to find the time is given as:
Equation:
t = (1/r)(A/P - 1)
Calculation:
First, converting R percent to r a decimal
r = R/100 = 2.25%/100 = 0.0225 per year,
then, solving our equation
t = (1/0.0225)((12700/10000) - 1) = 12
t = 12 years
Therefore, if she does not add or withdraw from the account, the time it
will take to have a balance of 12,700 in her account is 12 years
