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Populaire Word Problems >

9300 dollars is placed in an account with an annual interest rate of 6.75%. To the nearest tenth of a year, how long will it take for the account value to reach 33900 dollars?

Solution

9300 d o ll a rs i s pl a ce d in an a cco u n t w i t h an ann u a l in t eres t r a t e o f 6.75%. T o t h e n e a res t t e n t h o f a ye a r, h o w l o n g w i ll i t t ak e f or t h e a cco u n t v a l u e t o re a c h 33900 d o ll a rs ?

Solution

Time : 39.19

étapes des solutions

Translate the problem into an equation:

33900 = 9300 (1 + 0.0675 t)

Solutionner pour

t, 33900 = 9300 (1 + 0.0675 t) : t = 39.19

Time : 39.19

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