kelvishanorton kelvishanorton

02-05-2017
Mathematics

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holly wants to save money for an emergency. holly invests $1200 in an account that pays an interest rate of 4%. how many years will it take for the account to reach $15,400? round your answer to the nearest hundredth

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Aliwohaish12 Aliwohaish12

02-05-2017

15400=1200 (1+0.04)^t
Solve for t
T=log(15,400÷1,200)÷log(1+0.04)
T=65 years

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