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17.03.2021 •
Mathematics
If you deposit $6000 into an account paying 6% annual interest compounded monthly, how long until there is $8000 in the account?
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Ответ:
It will take 4.4 years to gain $8000.
Step-by-step explanation:
Substitute the values in the formula.
A = P (1+r/n) nt 8000 = 6000 (1+0.06/12) 12t
Use BEDMAS (order of operations) and solve the value in the brackets.
8000 = 6000 (1.005) 12t
Divide both sides by 6000
1.3 = (1.005) 12t
Take the logarithm of both sides.
log (1.3) = log (1.005) 12t
Include the exponent in the equation.
log (1.3) = (12t) (log 1.005)
Divide both sides by log 1.005.
(log(1.3))/(log(1.005)) = 12t
Find out the log.
52.6039 = 12t
Divide both sides by 12.
4.4 = t
I'm attaching a word document where everything is organized.
Ответ:
Step-by-step explanation:
Distributive property: ⇒![a(b+c)=a(b)+a(c)](/tpl/images/0366/3560/2b0cc.png)
First you had to add 57 from both sides of an equation form.
Hope this helps!
And thank you for posting your question at here on , and have a great day.
-Charlie