Mathematics, 08.04.2020 21:00 amy290
A person invest 9500 dollars in a bank. The bank pays 4.5% interest compounded daily. To the nearest tenth of a year , how long must the person leave the money in the bank until it reaches 19300 dollars ?
Answers: 2
![log(19,300/9,500)=log[(\frac{365.045}{365})^{365t}]](/tpl/images/0590/1244/3d3d7.png)
![t=log(19,300/9,500)/[(365)log(\frac{365.045}{365})]](/tpl/images/0590/1244/f5c8c.png)
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A person invest 9500 dollars in a bank. The bank pays 4.5% interest compounded daily. To the nearest...
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