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

When an amendment is proposed why is it not sent to the president?

When your lecture class in which only the professor was speaking breaks off into ten small groups of five students each, it has switched from being ________ to

in frightful's mountain chapter 16 there are several moments in this chapter that show the strong relationships between the characters. What relationships are w

PPPLLLLEAAAASSSEEEE HHHEEEELLLPPPPP!!!! Edwina made a circular hula hoop out of a piece of tubing 175 inches long by bending it into a circle and taping the end

According to the results of cross-sectional studies, on average older people learn new things more slowly than younger people because

In the diagram, MQ = QP = PO = ON. If NP is greater than MP, which must be true? Segment OP is longer than segment MQ. Segment MN has the same length as segment

Select all that apply. After the Russian Empire developed into the communist Soviet Union, which of the following typified life for the common people? low stand

Why do some species have more chromosomes than others?

what does foreshortening affect

Which simplified equation is equivalent to the equation shown below? 4x+x-3-9+4x=6 a.5x-8=6 b.-3x=6 c. 9x-12=6 d. 8x-12=6