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
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Check the picture below, is a negative angle, thus, is going "clockwise"
First off Jackson's mom sucks for limiting game time and second of the answer is 30 minutes. If 9 is 30 percent that means 3 is 10 percent. 3 times 10 is 30. So 30 minutes
You said 2x - 9 < 7
Add 9 to each side: 2x < 16
Divide each side by 2 : x < 8 .
