mtboreman6220 mtboreman6220

09-02-2021
Mathematics

contestada

The number of years it will take for $510 to grow to $1,010.18 at 5 percent compounded annually is ____

Respuesta :

samuelonum1 samuelonum1

11-02-2021

Answer:

13.66 years

Step-by-step explanation:

Given data

P=$510

A=$1,010.18

R=5%

t= ln(A/P)/r

susbstitute

t= ln(1,010.18/510)/0.05

t=ln1.980/0.05

t= 0.683/0.05

t= 13.66

Hence the time is 13.66 years

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