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OpenStudy (anonymous):
How long must $4100 be in a bank at 5% compounded annually to become $5769.11?
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OpenStudy (anonymous):
to solve, you want to use the compound interest formula where P = 1+r/n^nt
OpenStudy (aric200):
410=10% of 4100 5% = 205 so 5769.11/ 205?
OpenStudy (aric200):
8 years
OpenStudy (anonymous):
thanks!
OpenStudy (aric200):
Please give a medal.. hhaa
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OpenStudy (aric200):
@sonyrang
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