hongkongbrat6840
25.04.2020 •
Mathematics
13. $15,000 is invested in an account that yeilds 5% interest per year. After how many years will the account be worth $91,221.04 if the interest is compounded yearly?
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Ответ:
The correct answer is 37 years.
Step-by-step explanation:
Principal (P) invested is $15000
Rate of interest (r) per year is 5% compounded yearly.
Amount (A) of the principal is $91221.04.
Let the principal is invested for x years (t).
According to the problem,
A = P +
⇒ 91221.04 = 15000 ×
⇒ 6.08140267 =
⇒ x = 37
Thus the principal is supposed to be invested for 37 years for it to yield that amount.
Ответ: