3 years ago

Justin invested $7,300 in an account paying an interest rate of 1.5% compounded

Mathematics

1 answer:

lana [24]3 years ago

8 0

Answer: 10.7 years.

Step-by-step explanation:

7,300 * (1 + 0.015)^x = 8,560 <=>

7,300 * 1.015^x = 8,560 <=>

1.015^x = 8,560 / 7,300 <=>

1.015^x = 1.1726 <=>

x = 10.694

To the nearest tenth:

x = 10.7 years

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