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Tina wants to save money for school. Tina invests $700 in an account that pays an interest rate of 4%. How many years will it take for the account to reach $1,800? Round your ans…
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Tina wants to save money for school. Tina invests $700 in an account that pays an interest rate of 4%. How many years will it take for the account to reach $1,800? Round your ans…
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Jun 8, 2018
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Tina wants to save money for school. Tina invests $700 in an account that pays an interest rate of 4%. How many years will it take for the account to reach $1,800? Round your answer to the nearest hundredth
Mathematics
high-school
Waleed Ahmad
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Answer:24.08
Explanation:
log 2.57143 = log (1.04)^t simplify
Samanth
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Jun 9, 2018
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Samanth
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T=log (A/p)/log (1+r)
A future value 1800
P present value 700
R interest rate 0.04
T time ?
T=log(1,800÷700)÷log(1+0.04)
T=24.08 round your answer
T=24 years
Hope it helps:-)
Omer Greenwald
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Jun 14, 2018
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Omer Greenwald
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