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anonymous
 one year ago
Help please.
holly wants to save money for an emergency. Holly invests $1,500 in an account that pays an interest rate of 6.75% . How many years will it take for the account to reach $7,300? Round to the nearest hundredth
anonymous
 one year ago
Help please. holly wants to save money for an emergency. Holly invests $1,500 in an account that pays an interest rate of 6.75% . How many years will it take for the account to reach $7,300? Round to the nearest hundredth

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anonymous
 one year ago
Best ResponseYou've already chosen the best response.0A= P(1+r)^t is the equation

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0@BlooooooBlahBLIIIIK

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0now is the interest rate annually?

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0It doesnt state if its annually or not

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0\[A=P \left( 1+r \right)^{t}\] where P=$1500, r=0.0675 A=$7,300

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0\[7300=1500\left( 1+0.0675 \right)^{t}\] \[7300=1500\left( 1.0675 \right)^{t}\] Dividing both sides by 1500, \[\frac{ 73 }{ 15 }=1.0675^{t}\] Taking the logarithm, \[\ln \left( \frac{ 73 }{ 15 } \right)=tln \left( 1.0675 \right)\] Making 't' the subject, \[t=\frac{ \ln \left( \frac{ 73 }{ 15 } \right) }{ \ln \left( 1.0675 \right) }\]

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0Yay thank you for much for explaining it for me!!

anonymous
 one year ago
Best ResponseYou've already chosen the best response.0remember it is 24.23 years. never forget units!!!
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