Question

Thomas wants to save money for a vacation. Thomas invests $400 in an account that pays an interest rate of 4%.
How many years will it take for the account to reach $3,400? Round your answer to the nearest hundredth.

Answer 1

use the equation i gave you...

Answer 2

which i have no idea what to plug in where

Answer 3

Do you know what you are compounding by? Monthly,
yearly, continuosly?

Answer 4

yearly i believe

Answer 5

if that is the case then
A=P(1-R/n)^rt

therefore 3400 = 400(1- .04/1)^(.04)t
Solve for t