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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Step-by-step explanation:
Geometric Sequence formula for general term:
an = a1(r^n-1)
a1 = 4 × (-5)^1-1
a1 = 4
r = -5
Summation formula for geometric sequence :
Sn = a1 ( 1 - r^n / 1 - r )
...<em>take n from the top of the summation.</em>
= 4 ( 1 -(-5)^6 / 1 -(-5)
= -10416.
Answer:
2
Step-by-step explanation: