27.0k views
4 votes
Ferdinand invests $720 at a rate of 5% per year, compound interest. How many years will it be before his investment is worth more than $1000?​

User Whereisleo
by
7.9k points

1 Answer

3 votes

Answer:

7 years

Explanation:

$720×1.05^7= $1013.11

so 7 years I think

User ToxaBes
by
7.8k points

Related questions

1 answer
4 votes
211k views
1 answer
1 vote
109k views
asked Nov 6, 2024 234k views
Rmeador asked Nov 6, 2024
by Rmeador
7.8k points
1 answer
2 votes
234k views
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.