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A person invests 2000 dollars in a bank. The bank pays 4.75% interest compounded
quarterly. To the nearest tenth of a year, how long must the person leave the money
in the bank until it reaches 3500 dollars?
A = P(1 + + ?.)nt
n
00
Answer:
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A person invests 2000 dollars in a bank. The bank pays 4.75% interest compounded quarterly. To the nearest tenth of a year, how long must the person leave the m class=

Answer :

tman160429

Answer:

t = 2.7

Step-by-step explanation:

1. Use formula provided

2. A = 3500 B = 2000 r = 4.75 n = 12months/4 = 3 months t = ?

3. Solve

3500=2000(1+4.75/3)^3t

3t=logbase(31/12)*1500

t=logbase(31/12)*1500 / 3

t ≅2.568

raifordkari

Answer:11.9

Step-by-step explanation:

${teks-lihat-gambar} raifordkari

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