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Popular Word Problems >

A loan of 43,000 is made at 5.25% interest, compounded annually. After how many years will the amount due reach 77,000 or more?

Solução

A l o an o f 43, 000 i s ma d e a t 5.25% in t eres t, co m p o u n d e d ann u a ll y . A f t er h o w man y ye a rs w i ll t h e am o u n t d u e re a c h 77, 000 or m ore ?

Solução

Time : 11.39

Passos da solução

Translate the problem into an equation:

77000 = 43000 (1 + \frac{0.0525}{1})^{1 \cdot t}

Resolver para

t, 77000 = 43000 (1 + \frac{0.0525}{1})^{1 \cdot t} : t = 11.39

Time : 11.39

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