How much would $200 invested at 7% interest compounded annually be
1 answer:
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Answer:
x ≈ 11.09
Step-by-step explanation:
Using the rule of logarithms
x = n ⇒ x =
Given
ln(x + 9) = 3 , that is
(x + 9) = 3 , then
x + 9 = e³ ( subtract 9 from both sides )
x = e³ - 9 ≈ 11.09 ( to the nearest hundredth )