Odette deposited $3,624.40 into a savings account with an interest rate of 2.1% compounded annual. About how long will it take for the account to be worth $7,000?

Question

anonymous · Answer

3624+.021x=7000
3375.6=.021x
x=3375.6 divided by .021 plug that in to your calculator

anonymous · Answer

160742.86

anonymous · Answer

Great job thats years.  You can gaurentee that odette's never gonna get that much lol

anonymous · Answer

... my choices... 
 31 years, 9 months

 30 years, 9 months

 92 years, 0 months

 28 years, 4 months

jdoe0001 · Answer

http://www.financeformulas.net/Formula%20Images/Simple%20Interest%201.gif solve for "t"

anonymous · Answer

how do i get S?

jdoe0001 · Answer

hmmm, I think I got the wrong formula lol

anonymous · Answer

haha okay

jdoe0001 · Answer

http://static6.businessinsider.com/image/500ee2276bb3f7b229000002-400-300/compound-interest.jpg

jdoe0001 · Answer

your "n" there anyhow.... lemme just type it :|

anonymous · Answer

okay!

jdoe0001 · Answer

$$
Balance\ Amount = Principal(1+rate)^{years}
$$

anonymous · Answer

its A. thank you

anonymous · Answer

Sorry my ammount was in days not years.  Oops