Question

Drew put $4500 in an account with an annual simple interest rate of 5%. When he closed the account, the balance was $5850. For how long did Drew have the account?

Answer 1

A = P*(1+r*t)


5850 = 4500*(1+0.05*t)


Now solve for t. Tell me what you get.

Answer 2

i got 26..

Answer 3

that's way too high

5850 = 4500*(1+0.05*t)

5850/4500 = 1+0.05*t

1.3 = 1+0.05*t

1 + 0.05t = 1.3

0.05t = 1.3 - 1

....
....
...

t = ???

Answer 4

i think im gonna need another formula i dont get this one :-/

Answer 5

what is 1.3 - 1 equal to

Answer 6

0.3

Answer 7

so 0.05t = 0.3

Answer 8

what is the next step

Answer 9

to undo that multiplication of 0.05

Answer 10

so what undoes multiplication?

Answer 11

so divide 0.05/ 0.3 ??

Answer 12

close, the other way around 0.3/0.05

Answer 13

ohh ok

Answer 14

0.05t = 0.3

0.05t/0.05 = 0.3/0.05

t = ???

Answer 15

6..

Answer 16

so is the answer gonna be 6 years?

Answer 17

yes, so t = 6 which means it takes 6 years

Answer 18

correct

Answer 19

ok ok thank u

Answer 20

you're welcome