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10-07-2020
Mathematics

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find the time taken for rupees 12502 on an interest of rupees 1020 at the rate of 4% compounded annually

Respuesta :

10-07-2020

Answer:

t = 63.897 years

Step-by-step explanation:

Simple interest rate formula: A = P(1 + r)^t

Simply plug in what we know and solve:

12502 = 1020(1 + 0.04)^t

6251/510 = 1.04^t

log base 1.04 of (6251.510) = 63.897

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