Question

Paul deposited $6,460 into a savings account 17 years ago. The account has an interest rate of 4.3% and the balance is currently $13,400.91. How often does the interest compound?

Answer 1

hey, welcome to questioncove (:
do you know how to start this

Answer 2

just give me the answer

Answer 3

ight, give me money .
im helping u, don't be all bossy.

Answer 4

lol my bad, you got snapchat

Answer 5

now, let's help you (:

Answer 6

sorry ive been stuck on this question for hours im so mad

Answer 7

alright so you need to know this equation \[a=p(1+\frac{ r }{ n })^{nt}\]
where a is the amount after the compound or whateber, p is the principal (which is like the starting value), r is the rate of interest, n is the number of years

Answer 8

and t is in time of years

Answer 9

so knowing that info, we can fill in some numbers into our formula

Answer 10

yes thats one thing i understand!

Answer 11

ok, try to fill in the formula knowing what u know about the problem and the formula

Answer 12

ya good there lmao

Answer 13

soo i think it would be

13,400.91= 6460(1+0.043\[13,400.91= 6460(1+0.043/x) (x times 17)

Answer 14

\[13400.91=6460(1+\frac{ 0.043 }{ x })^{17x}\]

Answer 15

That?

Answer 16

thats what ive been putting in my caculator and it keeps popping up 0 lol maybe its broke

Answer 17

You have to isolate the x variable, and that's where it gets tricky

Answer 18

lol i got 0 again ughh

Answer 19

Alright lemme help you

Answer 20

thnx):

Answer 21

The variable x you put into ur calculator is there for other purposes

Answer 22

Don't use that variable

Answer 23

so use y?

Answer 24

So we can do it mathematically at first
\[13400.91=6460(1+\frac{ 0.043 }{ x })^{17x}\]

Answer 25

ok..

Answer 26

So we can isolate the thing by getting rid of 6460
Divide 13400.91 by 6460

Answer 27

i got 2.0744

Answer 28

so then what

Answer 29

Lemme type it out. sorry

Answer 30

its ok thank you

Answer 31

?

Answer 32

my computer is going to die

Answer 33

what calculator do you have?

Answer 34

a casio

Answer 35

is there anyway youll give out your snapchat or no

Answer 36

I mean I guess but I can't help you rn...I gotta go, when is this due?

Answer 37

my computer is going to die please add me on snap @ travis_pantazis or instagram @ the same thing PLEASE i need help and my computers going to die

Answer 38

When is this due

Answer 39

its not due for a couple of days!

Answer 40

Ok, add my snap and I'll be able to help you by tomorrow afternoon