SOLUTION: Briana invested $12,5000 into a fund that is expected to grow by 5.25% per year. How long with it take the fund to be worth $25,000? Round to the nearest year.
Algebra.Com
Question 1105968: Briana invested $12,5000 into a fund that is expected to grow by 5.25% per year. How long with it take the fund to be worth $25,000? Round to the nearest year.
Answer by ikleyn(52784) (Show Source): You can put this solution on YOUR website!
.
In problems like this, the condition must say whether the account is the SIMPLE or the COMPOUND interest.
RELATED QUESTIONS
How long will it take for a fund worth ₱12,500 to double if no withdrawals
are made... (answered by ikleyn,ewatrrr)
You recently graduated and your job search brought you to Blues Airline. Since you felt... (answered by ikleyn)
The sum of PHP 26,000 was deposited in a fund earning interest at 8% per annum... (answered by ikleyn,MathTherapy)
WORKSHEET 2
Interest
Simple Interest
Simple Discount
Compound Interest
Solve for... (answered by ikleyn)
If $ 2500 is invested in an account that pays interest compounded continuously, how long... (answered by lwsshak3)
A trust fund worth $44000 is invested in two different portfolios. This year, one... (answered by josgarithmetic)
Aaron wants to start a retirement fund that will have $500,000 in it when he retires... (answered by Theo)
David received an inheritance of $50,000. His financial advisor suggests that he invest... (answered by ikleyn)
$2500 is invested at 6% per year compounded annually. How long will it take this... (answered by addingup)