Mathematics: 1000 was invested at 5.5% interest, compounded annually. after sometime the amount had grown to 1550. how long was the money invested?

1000 was invested at 5.5% interest, compounded annually.

Ответ:

globalremix

11.03.2022

Mathematics

compound interest equation for annually compounded

A=P(1+r)^t

A=final amount

P=principal

r=rate in decimal

t=time in years

given that

A=1550

P=1000

r=5.5%=0.055

find t

1550=1000(1+0.055)^t

divide both sides by 1000

1.55=1.055^t

take ln of both sides

ln(1.55)=ln(1.055^t)

use ln rule ln(a^b)=b(ln(a))

ln(1.55)=t(ln(1.055))

divide both sides by ln(1.055)

$\frac{ln(1.55)}{ln(1.055)}=t$

using a calculator, we get that t=8.18544 yrs

so about 8.2yrs

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Ответ:

vegasherlyn

22.03.2020

Mathematics

A = 24 + b
c = 4a = 4(24 +b) = 96 + 4b
b =b
a + b + c = 180
24 + b + b + 96 + 4b = 180
Combine the variables and the whole numbers:
120 + 6b = 180
-120 -120
6b = 60
divide on both sides by 6, and b=10
b = 10 a = 34 c = 136, 10 + 34 + 136 = 180

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1000 was invested at 5.5% interest, compounded annually. after sometime the amount had grown to 1550. how long was the money invested?

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