Lisa opened a savings account and deposited $6000. the account earns %5 interest annually. she makes no further deposits and does not withdraw any money. in t years, she has $8865, in this account

t is approximately 2 years

Step-by-step explanation:

Lisa deposited an Initial amount of $6000 into the account. This means that the principal,

P = $6000

This amount was compounded annually This means that it was compounded once in a year. So

n = 1

The rate at which the principal was compounded is 5%. So

r = 5/100 = 0.05

It was compounded for a total of t years.

n = t

The total amount in the account at the end of t years is $8865. So

A= $8865

The formula for compound interest is

A = P(1+r/n)^nt

8865= 6000(1 + (0.05/1)^1×t

8865= 6000(1 + (0.05)^t

8865= 6000(1.05)^t

1.4775 = 1.05^t

t is approximately 2 years

answer

point o.

step-by-step explanation:

no one knows lol

step-by-step explanation: