itsmejuan1234 itsmejuan1234

27-08-2020
Mathematics

contestada

you put $500 in your bank account. With a interest rate of 5%, how long will it take the account to reach $600?

Respuesta :

mahendik mahendik

27-08-2020

Answer:

4 years hope this helps

Step-by-step explanation:

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Аноним Аноним

27-08-2020

Answer:

4 Years

Step-by-step explanation:

t = I/Pr

Note the 600 is the total amount in the account.

Therefore Interest, I = 600 - 500 = 100.

t = 100 / (500 * 5%)

t = 100 / (500 *0.05)

t = 4

It will take 4 years.

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