Today you have $100,000 in your investment account, which will grow by 7.5% annually. if you keep investing $600 every month, how many months does it take for your account balance to increase to $300,000? 15

the answer is c just got it on ed

step-by-step explanation:

the solution is the point

step-by-step explanation:

we have

> equation a

> equation b

adds equation a and equation b

substitute the value of x in equation b to find the value of y

the solution is the point

this is the formula: v = the value of investment at the end of the time period

p = the principal amount (the initial amount invested)

r = the annual interest rate

n = the annual frequency of compounding (how many times a year interest is added)

t = the number of years the money is invested

^ means raise to the power of