ina wants to save money for school. Tine invests $400 in an account that pays an interest rate of 7.5%. How many years will it take for the account to reach $8,500? Round your answer to the nearest hundredth.

At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

Get our expert's

answer on brainly

SEE EXPERT ANSWER

Get your free account and access expert answers to this and thousands of other questions.

A community for students.

ina wants to save money for school. Tine invests $400 in an account that pays an interest rate of 7.5%. How many years will it take for the account to reach $8,500? Round your answer to the nearest hundredth.

Mathematics
I got my questions answered at brainly.com in under 10 minutes. Go to brainly.com now for free help!
At vero eos et accusamus et iusto odio dignissimos ducimus qui blanditiis praesentium voluptatum deleniti atque corrupti quos dolores et quas molestias excepturi sint occaecati cupiditate non provident, similique sunt in culpa qui officia deserunt mollitia animi, id est laborum et dolorum fuga. Et harum quidem rerum facilis est et expedita distinctio. Nam libero tempore, cum soluta nobis est eligendi optio cumque nihil impedit quo minus id quod maxime placeat facere possimus, omnis voluptas assumenda est, omnis dolor repellendus. Itaque earum rerum hic tenetur a sapiente delectus, ut aut reiciendis voluptatibus maiores alias consequatur aut perferendis doloribus asperiores repellat.

Get this expert

answer on brainly

SEE EXPERT ANSWER

Get your free account and access expert answers to this and thousands of other questions

Assuming this is a simple annual interest problem, you would use the equation I=Prt Where I = Interest, P = Principal (original investment), R = rate (in decimal form), and t = time (in years). You just plug each number into the equation and solve for t. The Interest will be 8,500 - 400 (8,100), since you are including your original investment.
i'm a little confused
First, change the interest rate to decimal form. this will be 0.075. You want to solve the equation for time (t) so you change the equation like so. \[t = I \div (\Pr)\] Then you plug in each term, for I you will use $8,100, P will be $400, r will be 0.075. Your answer will be in years.

Not the answer you are looking for?

Search for more explanations.

Ask your own question

Other answers:

answer i got was 270 ?

Not the answer you are looking for?

Search for more explanations.

Ask your own question