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Tina wants to save money for school. Tina invests $1000 in an account that pays an interest rate of 8%. How many years will it take for the account to reach $1300? Round your an…
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Tina wants to save money for school. Tina invests $1000 in an account that pays an interest rate of 8%. How many years will it take for the account to reach $1300? Round your an…
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Nov 11, 2018
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Tina wants to save money for school. Tina invests $1000 in an account that pays an interest rate of 8%. How many years will it take for the account to reach $1300? Round your answer to the nearest hundredth.
Mathematics
high-school
Aron Rotteveel
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Aron Rotteveel
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1300=1000(1+0.08)^n
1300=1000(1+0.08)^n = 1.3=1.08^n = n=㏒(∨1.08)(1.3)
----------------
1000
n=3.40905
It will take Tina about 3 1/2 years to reach her goal.
Ronnie Smith
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Nov 17, 2018
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Ronnie Smith
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