henry787 henry787

10-12-2020
Mathematics

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How long will it take 20,000 turn to 32,210.10 at 10% interest rate compounded annually?

Respuesta :

oscar236 oscar236

10-12-2020

Answer:

5 years.

Step-by-step explanation:

32210 = 20000(1 + 0.10)^n

1.1^n = 32210/20000 = 1.6105

n log 1.1 = log 1.6105

n = 4.9999

Number of years = 5.

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