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Elden [556K]
3 years ago
5

they've invested to earn $20 in a savings account that offer 3% return on the investment the value of david's investment will be

at least $400 after a period of
Mathematics
1 answer:
Firlakuza [10]3 years ago
6 0
I=PRT
P=present amount
R=rate
T=time
basically
20+interest<u /> is more than or equal to 400
20+I<u>></u>400
minus 20 both sides
I<u>></u>380

solve
P=20
R=3%=0.03
T=?
I=PRT
380<u><</u>I=PRT
380<u><</u>20(0.03)(T)
380<u><</u>0.6T
divide both sides by 0.6
633.33333<u><</u>T
633.33 years at least

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