Find the best solutions to your questions at Westonci.ca, the premier Q&A platform with a community of knowledgeable experts. Join our platform to connect with experts ready to provide precise answers to your questions in different areas. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.
Sagot :
Answer:
The investment will be worth $450 after 25.255 years which is about 25 years and 3 months.
Step-by-step explanation:
You have to use the following formula to calculate the number of years:
t=ln(A/P) / n(ln(1 + r/n)), where:
t=time in years
A=Accrued amount=450
P=Principal amount=100
n=number of compounding periods per time period=4
r=interest rate=0.06
Now, you can replace the values in the formula:
t=ln(450/100)/4(ln(1+(0.06/4)))
t=ln(4.5)/4(ln(1.015))
t=1.50/0.059
t=25.255
According to this, the answer is that the investment will be worth $450 after 25.255 years which is about 25 years and 3 months.
Thank you for choosing our service. We're dedicated to providing the best answers for all your questions. Visit us again. Thanks for using our platform. We aim to provide accurate and up-to-date answers to all your queries. Come back soon. Your questions are important to us at Westonci.ca. Visit again for expert answers and reliable information.
