SOLUTION: Michelle has just been given stock worth $110 that is expected to increase in value by 7% per year. This means that the amount her stock is worth (A) can be calculated by
A
=
1
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-> SOLUTION: Michelle has just been given stock worth $110 that is expected to increase in value by 7% per year. This means that the amount her stock is worth (A) can be calculated by
A
=
1
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Question 1049989: Michelle has just been given stock worth $110 that is expected to increase in value by 7% per year. This means that the amount her stock is worth (A) can be calculated by
A
=
110
⋅
1.07
t
A=110⋅1.07t, where t is the number of years since the money was put in.
How many years will it take for the value of her stock be $664? Round your answer to two decimal places. Answer by advanced_Learner(501) (Show Source):
