3 years ago

Avery invested $200 in an account paying an interest rate of 6 7/8%

Mathematics

2 answers:

Maslowich3 years ago

5 0

Answer:

0.73 yrs

Step-by-step explanation:

if t is time in years

quarterly

600 = 200(1 + 0.06625/4)^4t

3 = (1 + 0.06625/4)^4t

ln3 = 4tln(1. + 06625/4)

t = ln3 / (4ln1.0165625)

t = 16.7198 yrs

continuously

600 = 200e^(0.06875t)

3 = e^(0.06875t)

ln3 = 0.06875t

t = ln3 / 0.06875

t = 15.9798 years

Δt = 16.7198 - 15.9798 = 0.73 yrs

ElenaW [278]3 years ago

4 0

Answer:

Step-by-step explanation:

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