What is the distance between the points (-1, 8) and (5, 8) in the coordinate plane?
1 answer:
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It will take 19 years and 6 months for the account value to reach 2900 dollars
Step-by-step explanation:
Given
Principal amount = 1400 dollars
Rate = 5.5 %
Final value = A = 2900
We have to find t
So,
The formula for simple interest is:
Putting values
Dividing both sides by 0.055
Rounding off to nearest tenth
19.5 years
Hence,
It will take 19 years and 6 months for the account value to reach 2900 dollars
Keywords: Interest, simple interest
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For this fraction, you would have to see how many times 7 goes into 47. So, 6 times as 7 times 6 is 42. Subtract 42 from 47, and this would be your remainder:
6
6