Ask Question
19 September, 12:30

Tina wants to save money for school. Tina invests $400 in an account that pays an interest rate of 8%. How many years will it take for the account to reach $5,500? Round your answer to the nearest hundredth.

+2
Answers (1)
  1. 19 September, 12:38
    0
    A=p (1+r) ^t

    5500=400 (1+0.08) ^t

    Solve for t

    T=log (5,500:400) : log (1+0.08)

    T=34 years
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Tina wants to save money for school. Tina invests $400 in an account that pays an interest rate of 8%. How many years will it take for the ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers