michelahughes michelahughes
  • 25-11-2017
  • Mathematics
contestada

Holly wants to save money for a emergency. Holly invests $1,100 in an account that pays an interest rate of 8.75%

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Аноним Аноним
  • 25-11-2017
p=amount of money investedr= interest rate percentage in decimal formt=time in yearsa=total money in the account at a time A = P(1 + rt)A/P = 1 + rtA/P - 1 = rtt = ((A/P)-1)/r t = ((5500/1000)-1)/(6.25/100)t = (5.5-1)/0.0625t = 4.5/0.0625 = 72 years It will take 72 years.
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dimur3481 dimur3481
  • 16-12-2021

Answer:

the answer is 20.99

Step-by-step explanation:

got it right

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