delaneytauzel delaneytauzel

22-02-2017
Mathematics

Answered

A savings account deposit of $300 is to earn 5.8% interest. After how many years will the investment be worth $900?

Verified Answer :

Aliwohaish12 Aliwohaish12

25-02-2017

900=300(1+0.058)^t divide each side by 300
3=1.059^t
Log(3)=t*log(1.058)
T=log(3)/log(1.058)
T==19.5 years

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