Register
A principal of $1100 is invested at 8% interest, compounded annually. How many years will it take to accumulate $2000 or more in the account?
91.1k views
1 vote
A principal of $1100 is invested at 8% interest, compounded annually. How many years will it take to accumulate $2000 or more in the account?

User Iuq
by
7.6k points

1 Answer

2 votes

Answer:

Explanation:

X = # of years

8% of 1100 = 88

88X =2000

X = 22.7

23 years

User Jcccn
by
8.7k points
Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.0m questions

11.6m answers

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
How do you estimate of 4 5/8 X 1/3
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
i have a field 60m long and 110 wide going to be paved i ordered 660000000cm cubed of cement  how thick must the cement be to cover field
Link Copied!