Answer:
18.7 years
Step-by-step explanation:
This is a compound interest problem and the following variables have been given;
Principal = 4000; this is the amount o be invested
APR = 9%; this is the compound interest to be earned
Accumulated amount = 20,000
We are required to determine the duration in years. We apply the compound interest formula;
The next step is to introduce natural logarithms in order to determine n;
The number of years required is thus 18.7 years
This is false because the confection of a determination is native
487.9573 * 1000 = 487947.30
As you can see, the first number has a decimal point, and the second number is 1000. You can drop the 0s in the 1000 leaving 1 to multiply with the first number. Simply move the decimal point to the right based on the number of 0s there are on the second number.
Since, 1000 has three 0s. Move the decimal point 3 times to the right of the number. So, from 487.9573 to 487957.3
If the function is division but the numbers are the same, you must move the decimal point to the left.
