
Mark M. answered 03/05/21
Tutor
5.0
(278)
Mathematics Teacher - NCLB Highly Qualified
1300 = 600(1.06)t
2.167 ≈ 1.06t
ln 2.167 = ln 1.06 t
Can you solve for t and answer?
Jordan M.
asked 03/05/21If you invest $500 at 6% compounded annually, how many years (to the nearest tenth) would it take for your investment to grow to $1300?
Mark M. answered 03/05/21
Mathematics Teacher - NCLB Highly Qualified
1300 = 600(1.06)t
2.167 ≈ 1.06t
ln 2.167 = ln 1.06 t
Can you solve for t and answer?
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