9514 1404 393
Answer:
11
Step-by-step explanation:
The future value of the account is given by the formula ...
A = P(1 +r/12)^(12t) . . . . principal P invested at rate r for t years
Solving for t, we find ...
A/P = (1 +r/12)^(12t) . . . . . . . . . . . divide by P
log(A/P) = 12t·log(1 +r/12) . . . . . . take logs
Divide by the coefficient of t, then fill in the numbers.
t = log(A/P)/(12·log(1 +r/12)) = log(202800/93000)/(12·log(1 +.068/12))
t ≈ 11.497
It will take about 11 years for the account balance to reach the desired amount.
It is basically 8 thousand plus one thousand two hundred so your answer would be 9200
Answer:15. 5/8 = 0.625
Step-by-step explanation:
Answer:
-16
Step-by-step explanation:
Answer: 28 years
Step-by-step explanation:
Given
The equation showing the value of the bag after x years is 
If the price of the bag increased by 2.5%, from the equation, we can deduce that
Initial cost of the bag is 25
Double of the initial value is 50
Insert it in the equation
It will take 28 years
