I’m not sure what that is
Answer:
3 years
Step-by-step explanation:
A=P( 1+rt)
A= Total amount
P= Principal
r = yearly interest
t= time in year
672=600(1+0.04t). Distribute
672=600+600x0.04t
72= 24t
t= 3 years
67 is the correct answer trust me i just answered and got it correct.
9514 1404 393
Answer:
4.8 years
Step-by-step explanation:
Solving the compound interest formula for the number of years gives ...
t = log(A/P)/(n·log(1 +r/n))
where principal P invested at rate r compounded n times per year produces value A after t years.
t = log(24805/22000)/(365·log(1 +0.025/365)) ≈ 4.800
The loan was for 4.8 years.
