2 years ago

The number of years it will take for $510 to grow to $1,010.18 at 5 percent compounded annually is ____

Mathematics

1 answer:

Alina [70]2 years ago

4 0

Answer:

13.66 years

Step-by-step explanation:

Given data

P=$510

A=$1,010.18

R=5%

t= ln(A/P)/r

susbstitute

t= ln(1,010.18/510)/0.05

t=ln1.980/0.05

t= 0.683/0.05

t= 13.66

Hence the time is 13.66 years

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The number of years it will take for ​$510 to grow to ​$1,010.18 at 5 percent compounded annually is ____

The number of years it will take for $510 to grow to $1,010.18 at 5 percent compounded annually is ____