Question

20 POINTS !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Jen wants to save money for the future. Jen invests $700 into an account that pays an interest rate of 6.75%.
how many years will it take for the acount to reach $16,300? round your answer to the nearest hundredth.

Answer 1

700 x 0.0675 x t = 16,300

47.25t = 16,300

t = 16,300 / 47.25

t = 344.97 years

answer

344.97 years

Explanation: