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JAlvelo
06.10.2019 •
Mathematics
Aperson invest $1,700 in an account that earns 3.97% annual interest. find when the value of the investment reaches $3,200
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Ответ:
16 1/4 years
Step-by-step explanation:
Assuming interest is compounded annually, the account balance (A) after t years will be ...
A = P(1 +r)^t
3200 = 1700·1.0397^t
log(3200) = log(1700) +t·log(1.0397)
t = (log(3200) -log(1700))/log(1.0397) ≈ 16.247
The account will reach a balance of $3200 after about 16 1/4 years.
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You may be asked to round your answer to the nearest integer or tenth. We leave that exercise to the student.
Ответ:
for part A the answer is B and for part B I think the answer is B too.