Cicialita5tyazur Cicialita5tyazur

31-08-2016
Mathematics

contestada

David invested $220 in a savings account that offers a 3% return on the investment. How many years will the value of David's investment will reach at least $400 ?

Respuesta :

HomertheGenius HomertheGenius

08-09-2016

FV = PV ( 1 + i ) ^t
FV = $400, PV = $220, i = 3% = 0.03
400 = 220 * ( 1 + 0.03 ) ^t
( 1 + 0.03 ) ^t = 400 : 220 = 1.818181
t = log ( 1.03 ) 1.81818
t = 20
After 20 years his investment will reach at least $400.

Answer Link

hjjones504 hjjones504

01-09-2021

Answer:

t=20

Step-by-step explanation:

Answer Link

Otras preguntas

are the equations 3x= -9 and 4x= -12 equivalent

Domain and range of y= square root of x minus 2

The Spanish club held a car wash raise money. The equation y = 5x repersents the amount of money y club members made for washing x cars. Identify the constant o

There is a 12.875 meter fence on one side of a rectangular garden. The gardener has 46.625 meters of fencing to enclose the other three sides. What is the lengt

The teacher asked that each student completes/complete the exercise. A. complete B. completes The student wished that his mother was/were more lenient about his

Order √3, 2π, and 1.5 from least to greatest.

Identify the following sentence as simple, compound, complex, or compound-complex. South Africa is the southernmost country of Africa. a. complex b. compound

Millions of protesters gathered in 102 American cities in 2006 to protest proposed regulations that would limit this activity. Abortion Immigration Stem Cell Re

Which description of the Freedman's Bureau is correct?

What is 32 thousand 1 hundred 4 ones times 10