How long will it take for $600 to grow to $47,500 at an interest rate of 8% if the interest is compounded quarterly? round the number of years to the nearest hundredth.

The formula for compound interest is given by:

where,

A=amount,

P=principal

r=rate of interest

t=time(years)

n=number of times the interest is compounded annually.

Now we are given,

A=amount = 47,500

P=principal= 600

r=rate of interest= 8% or 0.08

n= 4 ( quarterly)

t=time(years)= is to be found

Plugging these in the formula,

On solving, we get

t=55.19 years

It will take 55.19 years for $600 to amount to $47,500.

whatever you can spend with $11.53 or under.

step-by-step explanation:

20 - 8.47 = 11.53. take away the money he used for lunch from the starting amount of 20.

correct answer:

b.(19,-2)