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Tim has a savings account with the bank. The bank pays him 1% per year. he has $5,700 and wondered when it will reach $5,800. When will his savings reach $5,800? If necessary, round your answer to the nearest whole number.

Considering interest is calculated yearly, it will take Tim approximately _______ year(s).

User Luca Monno
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Answer:

Explanation:


A=P(1+rt)\\ \\ t=\left((A)/(P)-1\right)/r\\ \\ t=\left((5800)/(5700)-1\right)/0.01=1.75y

User Sitesbyjoe
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