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A person invests 10000 dollars in a bank. The bank pays 7% compounded annually. To the nearest tenth of a year, how long must the person leave the money in the bank until it rea…

A person invests 10000 dollars in a bank. The bank pays 7% compounded annually. To the nearest tenth of a year, how long must the person leave the money in the bank until it rea…
asked 73.6k views
18 votes
A person invests 10000 dollars in a bank. The bank pays 7%

compounded annually. To the nearest tenth of a year, how long must
the person leave the money in the bank until it reaches 18900 dollars?

asked
User Solopiu
by
8.3k points

1 Answer

3 votes

Answer:

t=9.40865\approx 9.4 \text{ years}

t=9.40865≈9.4 years

Explanation:

answered
User Indish
by
8.2k points
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