Question

Please solve 20 points

Answer 1

1 years 11 months

Explanation:

110 = 100 ( 1 + 5/100)ⁿ

110 = 100(1.05)ⁿ

1.05ⁿ = 110/100

1.05ⁿ = 1.1

n log 1.05 = log 1.1

n = log 1.1 ÷ log 1.05

n = 1.95 years

1.95 years = 1 years 11 months