Question

f John consistently makes $1200 deposit into his saving account every year, how many years would it take for John to have his first $1,000,000? (Round your answer up to the nearest whole number.)

Answer 1

834 years.

Explanation:

Let
`y` equal years.

Construct an equation:

`1200y=1000000`

Divide both sides of the equation by the coefficient of
`y,` which is
`1200`:

`y=833.3333...\\`

Round up to the nearest whole number:

`y=834`