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Beliebt Word Problems >

a principle of 7650 is invested at a rate of 3.7% compounded annually. after how many years will the investment first exceed 12250

Lösung

a p r in c i pl e o f 7650 i s in v es t e d a t a r a t e o f 3.7% co m p o u n d e d ann u a ll y . a f t er h o w man y ye a rs w i ll t h e in v es t m e n t f i rs t e x cee d 12250

Lösung

Time : 12.96

Schritte zur Lösung

Translate the problem into an equation:

12250 = 7650 (1 + \frac{0.037}{1})^{1 \cdot t}

Löse nach

t, 12250 = 7650 (1 + \frac{0.037}{1})^{1 \cdot t} : t = 12.96

Time : 12.96

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