9400 dollars is placed in an account with an annual interest rate of 6.25%. To the nearest tenth of a year, how long will it tak
e for the account value to reach 47100 dollars?
1 answer:
Answer:
Step-by-step explanation:
we know that
The simple interest formula is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest
t is Number of Time Periods
in this problem we have
substitute in the formula above
solve for t
You might be interested in
Where is the image or graph that we are supposed to be solving?
Answer:
In slope-intercept form:
In standard form:
Step-by-step explanation:
We can’t see that it’s black
What is your question asking???
Answer:
$6,482.30
Step-by-step explanation:
150 x 40 (hours per week) = $6,000
6,890 x .07 = $482.30
6,000 + 482.30 = $6,482.30