SOLUTION: A college loan of $44,000 is made at 3% interest, compounded annually. After t years, the amount due, A, is given by the function.
A(t) = 44,000 (1.03)^t.
After what amount of
Algebra ->
Logarithm Solvers, Trainers and Word Problems
-> SOLUTION: A college loan of $44,000 is made at 3% interest, compounded annually. After t years, the amount due, A, is given by the function.
A(t) = 44,000 (1.03)^t.
After what amount of
Log On
Question 299974: A college loan of $44,000 is made at 3% interest, compounded annually. After t years, the amount due, A, is given by the function.
A(t) = 44,000 (1.03)^t.
After what amount of time will the amount reach $54,000? Answer by nerdybill(7384) (Show Source):
You can put this solution on YOUR website! A college loan of $44,000 is made at 3% interest, compounded annually. After t years, the amount due, A, is given by the function.
A(t) = 44,000 (1.03)^t.
After what amount of time will the amount reach $54,000?
.
Simply set A(t) equal to 54000 and solve for t:
Rather:
t = 6.93 years
